The US Air Force has awarded Lockheed Martin (NYSE: LMT) a $108 million contract for the Mark21A Reentry Vehicle (Mk21A) Technology Maturation and Risk Reduction (TMRR) contract.
The potential value of the contract is estimated at $138 million: $108 million awarded in the three-year contract and $30 million as a potential one-year contract.
"It is essential that Lockheed Martin continue our long-standing ICBM partnership with the Air Force to provide them with advanced solutions. We will continue to demonstrate, through this TMRR, cutting-edge engineering to defeat rogue nation threats," said John Snyder, vice president of Advanced Strategic Programs for Lockheed Martin.
Lockheed Martin will work closely with the Air Force and the National Nuclear Security Administration to provide a technically low risk and affordable solution to modify existing Mk21 reentry vehicles with the capability to deliver the W87-1 Warhead for the Ground Based Strategic Deterrent Weapon System.
The Mk21A TMRR contract is a key element of Lockheed Martin's strategy to remain the Air Force's trusted partner for ICBM Reentry Systems and modernization of the deterrent triad.
Source: Lockheed Martin Corporation (NYSE: LMT)
Date: Oct 23, 2019