The Defense Logistics Agency has awarded Lockheed Martin (NYSE: LMT) a potential 10-year, $750 million contract to supply the U.S. Air Force with flight line spare parts.
The Defense Department said Friday Lockheed won the contract, which contains a five-year base period plus three-year and two-year option periods, via a competitive acquisition that received three bids.
DLA’s aviation unit will use defense working capital funds from fiscal year 2017 through fiscal 2022 to cover the contract’s base term that runs through March 31, 2022.
Lockheed will perform work in Georgia, Oklahoma and Utah.
DLA Aviation serves as the aviation supply and demand manager for the DLA and provides engineering, industrial plant equipment, Ozone depleting substances reserve and sustainability services as well as commodities, mapping and parts kitting products to support more than 1,340 major weapon systems.