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Lockheed Moving Forward with FAA

Lockheed Martin (NYSE: LMT) won a contract to develop and implement the Time Based Flow Management (TBFM) program for the Federal Aviation Administration’s Office of System Operations Programs.

The initial 5-year contract includes options that, if exercised, could bring the total value to $202 million over 10 years.

“We have a proud history working with the FAA, and we look forward to our Time Based Flow Management team providing an advanced tool that helps enhance existing capabilities to more accurately schedule arrivals and departures through all phases of flight, thus improving the flow of aircraft through the National Airspace System, ” said Sandra Samuel, vice president of Lockheed Martin Transportation Solutions. “This tool will expand the use of time-based metering, maximize the use of existing system capacity, and further implement next generation air transportation initiatives.”

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