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Lockheed Martin Gets Potential $285M Target Sight System Order From Navy

Lockheed Martin (NYSE: LMT) has received a potential $284.6 million contract from the U.S. Navy to produce infrared target sight systems for the AH-1Z Cobra attack helicopter.

The company’s Orlando, Florida-based missile and fire control unit will produce the sight system in Orlando and Ocala in Florida through January 2022 for the Navy and Pakistan’s government under the foreign military sales portion of the award, the Defense Department said Thursday.

The contract has a base value of $150.96 million and supports the AH-1Z Cobra helicopter production efforts of the Naval Air Systems Command’s PMA-276 and Pakistan, DoD added.

The TSS large-aperture midwave infrared sensor features a laser designator and rangefinder turret and works to laser-designate targets at maximum weapon range.

DoD said the Navy will obligate the contract’s full base value at the time of award from the military branch’s fiscal 2017 and 2016 aircraft procurement and fiscal 2016 research, development, test and evaluation funds.

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