Author: Scott Nicholas|| Date Published: June 13, 2017
Lockheed Martin (NYSE: LMT) has won a potential 10-year, $104.6 million contract to develop and test a production representative article of Advanced Radar Threat System Variant 2 for the U.S. Air Force.
The Defense Departmentsaid Monday the single-award contract includes an option for the company to produce up to 20 ARTS-V2 units.
Lockheed’s missiles and fire control business will perform work in Alabama, Arizona, California, Colorado, Florida, New York, Ohio, Rhode Island, Texas, Virginia and Wisconsin through June 30, 2027.
The Air Force received two bids for the contract through a competitive acquisition process and obligated $24.7 million in fiscal 2017 research, development, test and evaluation funds at the time of award.
(CORRECTION: The contract value has been updated based on a DoD announcement dated June 13, 2017. All other information is accurate.)
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Lockheed Martin (NYSE: LMT) has won a potential 10-year, $104.6 million contract to develop and test a production representative article of Advanced Radar Threat System Variant 2 for the U.S. Air Force.
