Military
Pentagon Awards $194 Million in Defense Contracts to Lockheed Martin, Rolls Royce, Northrop Grumman
Published:
The U.S. Department of Defense awarded only seven defense contracts in its Wednesday evening announcement of contract awards. The total value of contracts awarded was $194.5 million.
Among the companies winning contracts:
- Lockheed Martin (NYSE: LMT) took home the bulk of the awards in a single contract win amounting to nearly half the funds announced — a $90.9 million contract modification to perform software updates in support of the Electronic Warfare System used in Lot VII F-35 fighter jet production. This work will benefit the U.S. Navy, Air Force, Marine Corps, and also the governments of F-35 International Partners purchasing the aircraft. Work on this contract should be complete by March 2018.
- Rolls-Royce Corp. (OTC: RYCEY) was awarded a $9.5 million contract modification to perform 13 low-power repairs on U.S. Navy MV-22 Osprey tilt-rotor aircraft under a Mission CareTM contract. This work should be complete by February 2015.
- Raytheon (NYSE: RTN) was awarded a $7 million contract to develop new manufacturing processes for the U.S. Air Force’s Affordable Radio Frequency Multifunction Sensors (ARMS) program, aiming to increase device reliability and decrease the manufacturing and operating cost of Active Electronically Scanned Array (AESA) sensors. Work on this contract will continue through March 4, 2016.
- Northrop Grumman (NYSE: NOC) won a contract for similar work on the ARMS Program. As with Raytheon’s contract, Northrop will be working on ARMS through March 4, 2016. The value of this last award is listed as $3,750,297 in the Pentagon’s contract announcement. However, this amount may be in error. According to standard DoD procedure, contracts must be valued at $6.5 million or more in order to be included in the Pentagon’s daily announcement of contracts awarded. This suggests that the value of the award may be greater than indicated in the Pentagon’s announcement.
ALSO READ: Northrop Grumman Wins Stealth Bomber Contract Worth up to $9.9 Billion
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