Lockheed Martin Wins More Than $4.4 Billion in Defense Contracts Friday
The Department of Defense announced a mind-boggling 113 separate contract awards on Friday, worth $10.92 billion in total. Amazing as this number is, however, three other numbers are even more impressive: One single company won nine of these contracts -- and more than 40% of the Pentagon's money.
That company is Lockheed Martin , the nation's largest pure-play defense contractor, and it won the bulk of its funding from a pair of megacontracts for the production of 40 F-35 Lightning II fighter jets for the U.S. and its allies. Combined, those two contracts are worth $4.15 billion -- but they were far from the only contracts Lockheed won yesterday. Its other wins:
- $97.4 million: a non-multi-year, firm-fixed price contract with options to continue providing IT services to the U.S. Army Corps of Engineers.
- $96.3 million: a contract modification to provide logistics support services to the Air Force's Space Based Infrared Systems, including operations crew support and organizational and depot maintenance, through Sept. 30, 2014.
- $29.4 million: a contract modification to perform aircrew training and provide logistics support for the Air Force's C-130J Super Hercules transport aircraft's Maintenance and Aircrew Training System devices.
- $27.5 million: a cost-plus-fixed-fee contract to support the delivery, installation, maintenance, upgrade, and repair of Navy AN/BLQ-10(V) submarine electronic warfare systems delivered through September 2016.
- $21.5 million: a contract modification to convert weapon system trainers working on the C-130 ATS II program (which trains aircrews to service the Air Force's C-130 Hercules transport aircraft) from the H1 configuration to the H2 configuration by July 31, 2017.
- $8.8 million: a contract modification to incorporate "Option X" software upgrades into Air Force Increment 2 HC/MC-130J aircraft. The HC-130J Combat King II aircraft is a C-130 airplane tweaked to specialize in combat search and rescue missions. The MC-130J is tailored for special forces work. Lockheed should complete work on this contract by Dec. 23, 2015.
- $8.6 million: a contract modification of unspecified import, relating to the Air Force's C-130J Training System Support Center.
The article Lockheed Martin Wins More Than $4.4 Billion in Defense Contracts Friday originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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