Lockheed Martin (NYSE: LMT) received an $87.6 million contract from the U.S. Air Force for follow-on production of Paveway II Plus Laser Guided Bomb (LGB) kits.
The contract represents the majority share of fiscal year 2016 funding and the 8th consecutive majority win for Lockheed Martin in the annual Air Force competition. Deliveries include the guidance and tail assemblies for GBU-10 (2,000-lb.) and GBU-12 (500-lb.) LGB configurations.
“Our efficient and cost-effective manufacturing enables us to offer the U.S. Air Force and our allies a cost-effective solution for their LGB requirements,” said Joe Serra, Precision Guided Systems director at Lockheed Martin Missiles and Fire Control. “Paveway II Plus LGB provides U.S. and allied warfighters with a reliable direct-attack capability to help them achieve their mission in today’s air-to-ground engagements.”
Source: Lockheed Martin Corporation (NYSE: LMT)
Date: Sep 19, 2016