Lockheed Martin gets majority of laser guided bomb contract

Lockheed Martin (NYSE: LMT) said it received a USD76 million contract from the US Air Force for follow-on production of Paveway II Plus Laser Guided Bomb (LGB) kits.

The contract represents the majority share of fiscal year 2015 funding, as well as 100 percent of available funding for Foreign Military Sales. Deliveries will begin in the second quarter of 2016 and include the guidance and tail assemblies for GBU-10 and GBU-12 LGBs.

Lockheed Martin is a qualified provider of all three Paveway II MK-80 series LGB variants (GBU-10 MK-84 [2,000 lb.], GBU-12 MK-82 [500 lb.] and GBU-16 MK-83 [1,000 lb.]) and is the sole provider of the Enhanced Laser Guided Training Round and Dual Mode LGB kits.

The company has delivered more than 140,000 training rounds, more than 70,000 Paveway II LGB kits and approximately 7,000 dual-mode systems to the US Navy, Marine Corps, Air Force and 20 international customers. The systems are designed and manufactured at Lockheed Martin´s 350,000-square-foot production facility in Archbald, Pennsylvania.

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 112,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation´s net sales for 2014 were USD45.6 billion.