Lockheed Martin Wins 4 Separate Defense Contracts Worth $183 Million
The Department of Defense announced 24 new defense contracts Monday, with a combined value of $1.66 billion. For sheer total number of awards won, Lockheed Martin was the clear winner of the day, landing four of the defense contracts -- one in six. Its won, in descending order of value:
- A $108.2 million contract modification funding sustainment work on the U.S. Air Force's F-22 Raptor fighter jets. This contract will run through Dec. 31, 2014.
- A $37.1 million contract modification funding Aegis Platform Systems Engineering Agent (PSEA) activities and Aegis Modernization Advanced Capability Build engineering. DoD clarifies that Aegis PSEA has Lockheed managing in-service combat systems and integrating upgrades into the Ticonderoga-class Aegis guided missile cruisers and Arleigh Burke-class Aegis guided missile destroyers. Aegis Modernization upgrades Aegis cruisers' and Aegis destroyers' computer systems. This work will now continue through September 2014.
- A $23.3 million contract modification exercising an option to have Lockheed perform engineering and design work on Freedom-class Littoral Combat Ships that it built for the Navy, as well as make efforts to reduce the acquisition and lifecycle costs of such vessels. This contract will now continue into December 2014.
- And, finally, a $14.5 million contract modification paying for additional engineering and logistics work on implementing and fielding the U.S. Army's new Modernized Target Acquisition Designation Sight High Reliability Turret. Estimated completion date on this one: Sept. 30, 2017.
The article Lockheed Martin Wins 4 Separate Defense Contracts Worth $183 Million 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 may not 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.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.