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Report: $5B Humvee Contract Up For Grabs

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.

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