Lockheed Martin Cleans Up, Wins 3 Defense Contracts Worth $829 Million

The Department of Defense announced 37 new defense contracts Friday, worth a combined $2.2 billion in total value. Lockheed Martin won only three of them. But the sheer size of the contracts it won -- $829 million in all -- meant that Lockheed Martin collected nearly 38% of all funds on offer Friday. Its wins:

  • $562 million -- the biggest contract awarded for the day -- in an undefinitized contract action adding funds for "CY14 Follow-on Agile Sustainment to the Raptor." This contract modification funds nine months of sustainment activities for the U.S. Air Force's most powerful stealth fighter jet, the F-22 Raptor, and will see Lockheed performing all engineering, field service, technical data, supply chain management, modification and heavy maintenance, and reliability and maintainability upgrades on the F-22. The contract should wrap up by Sept. 30, 2014.
  • $255.1 million in a firm-fixed-price contract to supply the U.S. Army and Marine Corps and the Italian military with unitary and reduced range practice rockets for their Guided Multiple Launch Rocket Systems. Delivery is due March 31, 2016.
  • An $11.9 million cost-plus-fixed-fee, firm-fixed-price contract to develop software and hardware for the U.S. Navy's Integrated Common Processor Program, and to produce, install, maintain, and train users to use the software and hardware by December 31, 2014. This contract includes optional extension which, if exercised, would extend its duration into 2017, and raise its cumulative value past $83.5 million.

The article Lockheed Martin Cleans Up, Wins 3 Defense Contracts Worth $829 Million originally appeared on Fool.com.

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