Lockheed Martin (NYSE: LMT) has received a potential five-year, $968.7 million contract modification to build 17 C-130J transport planes for the U.S. Air Force.
The award covers the production of six C-130J-30 Super Hercules, nine MC-130J Commando II, one KC-130J tanker and one HC-130J Combat King II aircraft, the Defense Department said Tuesday.
The C130J airlifter fleet has recorded more than 1.2 million in flight hours and works to perform military personnel and cargo transport, aerial refueling, search-and-rescue and close air support operations.
Work will occur at the contractor’s facility in Marietta, Georgia, through April 30, 2020.
The Air Force Life Cycle Management Center will obligate $687 million from fiscal 2014 Navy and Air Force aircraft procurement funds at the time of award, according to DoD.