Contractors have unveiled their designs to compete for a potential $5 billion contract to provide the U.S. Army and Marine Corps with new vehicles, AutoWeek reports.
The U.S. Army Tacom Life Cycle Command will start replacing 18,500 aging military Humvees for the services branches through the Joint Light Tactical Vehicle program.
According to Chad Halcon, a General Dynamics (NYSE: GD) joint venture, Lockheed Martin (NYSE: LMT) and a team including BAE Systems Inc. and Northrop Grumman (NYSE: NOC) are competing for three awards that could come in July.
Contractors are currently competing for a $65 million award to conduct preproduction engineering, manufacturing and development for the program.
[...] Contractors competing for up to three 27-month contracts reportedly include a General Dynamics joint venture, Lockheed Martin and a team including BAE Systems and Northrop Grumman. [...]
[...] reports indicate the total value of the JLTV program, designed to replace aging Humvees used by the Army and Marines, could come to [...]