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Military

Textron, Lockheed Martin Win Pentagon Contracts

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
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The Department of Defense awarded 14 defense contracts in its Friday evening announcement of contract awards. The total value of contracts awarded was $642.8 million.

Bell Helicopter Textron Inc. (NYSE: TXT) won the day’s biggest award, a $337.8 million contract modification assigning a firm value to a previously awarded advance acquisition contract to build and deliver to the U.S. Marine Corps one dozen Lot 11 new UH-1Y Venom utility helicopters and one dozen new Lot 11 AH-1Z Viper attack helicopters. The modification sets a fixed-price incentive for delivery of the aircraft and establishes a firm fixed price for delivery of the helicopters’ auxiliary fuel kits. Delivery of the helicopters should be completed by June 2017.

ALSO READ: Countries Spending Most on the Military

Lockheed Martin Corp. (NYSE: LMT) was the day’s second-biggest winner, claiming two contract wins:

  • A $92.6 million contract modification to perform Aegis Weapon System and Aegis Combat System combat systems engineering, in-country support services, and staging support work for the Japan Maritime Self Defense Force. Lockheed is expected to complete this work by November 2014.
  • A $20.5 million option exercise to perform engineering, advanced capability, technical insertion, and integration work on AN/SQQ-89 undersea warfare/anti-submarine warfare combat systems for the U.S. Navy and Japan. The AN/SQQ-89A(V)15 is a surface ship combat system used to search, detect, classify, localize, track, and kill undersea contacts. Work on this contract should be completed by May 2015.

ALSO READ: Famous Products Invented by the Military

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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