Lockheed Martin Lands $606 Million in Defense Contracts

The Department of Defense awarded the nation’s-biggest defense contractor, Lockheed Martin (NYSE: LMT), three separate contracts Thursday. Combined, the awards amount to more than $606 million in incremental revenues for the company.

Of the three contracts, Lockheed’s biggest win by far was a $452 million contract for re-entry system/re-entry vehicles (RS/RV) subsystem support. Lockheed will perform engineering work related to sustaining, maintaining, and observing the effect of aging upon spacecraft, perform systems and equipment modifications, software maintenance, and developmental and production engineering. Funds will also pay for the procurement of Minuteman III (MMIII) RS/RV subsystems and related support equipment. This contract will remain in force through June 4, 2022.

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Lockheed’s second-biggest award concerned missile defense. Valued at $134.2 million, this contract modification funds highly specialized services supporting Ballistic Missile Defense System flight tests at several contractor-owned facilities and government test sites through Dec. 8, 2018.

Finally, Lockheed won a contract worth up to $20 million to perform engineering work on the U.S. Navy’s Consolidated Automated Support System (CASS) family of standardized automatic testing equipment, which is used to evaluate the condition of electronics on everything from warplanes to surface combatants to submarines. This contract will run through June 2019.

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