Lockheed Awarded $480M for C-130J Aircraft System Upgrades

lockheed martinThe U.S. Air Force has awarded Lockheed Martin (NYSE: LMT) a potential 15-year, $480 million contract to provide follow-on research and development services for the C-130J aircraft upgrade program.

The Defense Department said Wednesday that Lockheed will also help enhance systems of the military transport aircraft under the sole-source contract.

The Air Force Life Cycle Management Center is the contracting activity and will obligate  $98, 467 in fiscal 2015 R&D funds at the time of award.

Lockheed will update C-130Js at the company’s Marietta, Georgia-based facility and DoD expects the company to complete work on June 19, 2030.

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