Lockheed MartinÂ (NYSE: LMT) has been awarded a potential $452 million contract to sustain the reentry subsystems for the U.S. Air Forceâs intercontinental ballistic missiles.
Lockheed will work to modify and test the hardware and software components of the Minuteman III ICBMâs reentry system-reentry vehicle subsystem, the company said Thursday.
The initial contract contains a one-year base period, worth $109 million, and four option years as part of the Air Forceâs Future ICBM Sustainment and Acquisition Construct program running through 2030.
âThis award represents an exciting new chapter in Lockheed Martinâs 50-year partnership with the Air Force ICBM enterprise, â said Doug Graham, vice president of ICBM and advanced programs at Lockheed Martin Space Systems Company.
Work under the contract will take place at Hill Air Force Base in Utah and in King of Prussia, Pa.