LM Awarded $22 M for Paveway II Plus Laser-Guided Bombs

Lockheed Martin (NYSE: LMT) received a $22.8 million contract from the U.S. Air Force on behalf of the U.S. Navy to produce Paveway II Plus Laser Guided Bomb (LGB) kits.

The award includes guidance kits and air foil groups (tail kits) for GBU-12 (500 pound) configuration LGBs, slated for delivery by fourth quarter 2019.

The contract is a follow-on to the U.S. Air Force's $131 million fiscal year 2017 LGB award. In that competition, Lockheed Martin secured the ninth consecutive majority share of available funding in the annual U.S. Air Force competition.

"Paveway II Plus LGBs from Lockheed Martin meet the U.S. Navy's warfighting needs in today's challenging operational environment," said Joe Serra, Precision Guided Systems director at Lockheed Martin Missiles and Fire Control. "We are proud to be able to meet the increased demand at a delivery rate that enables successful naval aviation operations across the globe."

Paveway II Plus includes an enhanced guidance package that improves accuracy over legacy LGBs. Lockheed Martin has been a qualified supplier of Paveway II LGB kits since 2001, and has delivered more than 100,000 kits to customers.

In addition to the Paveway II Plus LGB, Lockheed Martin's 350,000-square-foot production facility in Archbald, Pennsylvania, is the sole provider of the Enhanced Laser Guided Training Round and Paragon™ direct attack munition. Lockheed Martin has delivered more than 160,000 training rounds and 7,000 dual-mode LGB kits to the U.S. Navy, Marine Corps, Air Force and 24 international customers.

Source: Lockheed Martin Corporation (NYSE: LMT)
Date: Dec 13, 2017