Lockheed Martin (NYSE: LMT) picked up several MH-60R Seahawk helicopter production and development contracts from the Navy, worth a total $360 million.
The deals cover a variety of tasks for the by Sikorsky (NYSE: UTX)-produced aircraft.
“The Navy’s investment in the MH-60R fleet ensures our pilots and aircrews have the best and most advanced equipment for every mission, ” said Capt. Dean Peters, U.S. Navy MH-60 program manager. “We are looking for reliable, modern aircraft upgraded efficiently and affordably, and that’s why we have devoted these resources to the MH-60 fleet.”