Lockheed Countermissile Contract Value Tops $1.6 Billion

Defense contractor wins its second LAIRCM contract so far this month.

By Rich Smith – Apr 17, 2013 at 5:56PM EST

On Wednesday, the Department of Defense awarded Lockheed Martin (LMT 1.71%) its second contract so far this month, for work related to Northrop Grumman's (NOC 1.01%) Large Aircraft Infrared Countermeasures System, or LAIRCM.

On April 4, the U.S. Air Force awarded Lockheed $7.3 million to incorporate LAIRCM "NexGen Sensors" onto its HC/MC-130J special operations transport aircraft. Now, USAF is adding on a further $9.2 million in the form of a cost-plus-fixed-fee, cost-reimbursable contract to supply LAIRCM countermeasures "kits" for installation on its similar C-130J transport.

Work on this instant contract should be complete by March 31, 2015. In total, the funds awarded to Lockheed under the LAIRCM program have now topped $1.62 billion.

Rich Smith is a contributing Motley Fool defense and stock market analyst covering publicly traded and emerging companies in defense, space, aerospace, and other sectors. Prior to The Motley Fool, Rich practiced international corporate law for Clifford Chance in Russia, and for the Russian-Ukrainian Legal Group in Moscow, Kyiv, and Washington, D.C. He holds a bachelor’s degree in international relations from the College of William & Mary, a law degree from the University of Baltimore, and a language certification from the International Institute of Russian Language & Culture in Tver, Russian Federation. The Globe and Mail once featured him as “one of the best stock pickers since 2009.”

TMFDitty

@RichSmithFool

Lockheed Countermissile Contract Value Tops $1.6 Billion

Read Next

About the Author

Stocks Mentioned

Premium Investing Services