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Lockheed Martin Wins $250 Million in Pentagon Defense Contracts

By Rich Smith – Mar 19, 2014 at 10:02AM

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The bulk of the work involves developing and supporting the new F-35 fighter jet.

Lockheed Martin (LMT -0.10%) won not one, not two, but five separate defense contracts Tuesday in the Pentagon's daily announcement of contract awards. In total, the awards came to just under $250 million in combined value. The company's wins included:

  • a $118.9 million contract modification funding the repair and replenishment of F-35 Joint Strike Fighters (JSF) owned by the U.S. Air Force, Marine Corps, and Navy, as well as the militaries of the United Kingdom and the Netherlands. Lockheed will supply spare parts, training devices, support equipment, and Autonomic Logistics Information System equipment by October 2014.
  • a $65.3 million contract modification paying for "non-recurring" development work performed for the governments of Japan and Israel, developing a Common F-35A Conventional Take-Off and Landing Air System comprised of an Air Vehicle and the Autonomic Logistics Global Sustainment System. This work should be completed by December 2017.
  • a $50.7 million contract funding "non-recurring" integration work on Japan's F-35A Conventional Take-Off and Landing Air System -- also through December 2017.
  • an $8.1 million contract modification exercising options to have Lockheed perform lifetime sustainment and support work on installed Aegis Weapon Systems (AWS) for the U.S. Navy. Here, Lockheed will be modernizing the systems and providing logistics and sustainment support aimed at keeping delivery of AWS upgrades on schedule. This contract should be complete by June 2017.
  • a $6.9 million contract modification paying Lockheed to develop, deliver, and install 20 advanced countermeasure electronics system-system integrity (ACES SI) retrofit kits, modify 24 radar warning receivers, and supply three electronic warfare memory loader verifiers on 16 F-16C and 4 F-16D Block 52 fighter aircraft of the Egyptian Air Force. Delivery is due Oct. 19, 2015. 


Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin. 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.

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