LM Receives $90 M US Army Apache M-TADS/PNVS PBL Contract
Lockheed Martin [NYSE: LMT] has received a $90.6 million Performance Based Logistics (PBL) contract from the U.S. Army for sustainment of the Modernized Target Acquisition Designation Sight/Pilot Night Vision Sensor (M-TADS/PNVS) system.
The firm, fixed price contract provides a comprehensive sustainment solution that enables mission readiness, reduces operation and support costs, and drives reliability and maintainability improvements. This is the first of three options under the $111 million PBL contract awarded in 2012. The total four-year contract value is $375 million.
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M-TADS/PNVS is the advanced electro-optical fire control system that Apache helicopter pilots use for safe flight in day, night or bad weather missions. It provides Apache pilots with long-range, electro-optical precision engagement and flying capabilities.
“Lockheed Martin works closely with the U.S. Army to provide highly reliable products to the warfighter while implementing efficiencies and cost-saving measures,” said Tom Eldredge, program director of M-TADS/PNVS international and support programs at Lockheed Martin Missiles and Fire Control. “The U.S. Government and industry teams are focused on the continuous improvement of processes, services and products that benefit our warfighters.”
PBL is a strategy for system product support that employs an integrated, affordable performance package designed to optimize system readiness. PBL offers supply availability that maximizes mission effectiveness and allows Apache aircrews to depend on the situational awareness and targeting accuracy provided by M-TADS/PNVS.
Source : Lockheed Martin Corporation (NYSE: LMT)