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Lockheed Gets $159M FMS Funds for Phase 2 German P-3C System Refresh

Lockheed Martin (NYSE: LMT) has received a $158.5 million contract modification from the U.S. Navy to conduct phase 2 system upgrade work on Germany’s P-3C Orion maritime surveillance aircraft.

The Defense Department said Tuesday Lockheed will update mission computers, acoustic equipment, armament/ordnance systems, displays and controls on eight P-3C planes as part of a foreign military sales agreement between U.S. and Germany.

The company will also provide new mission and acoustic system avionics designed to help Germany meet current and future NATO requirements.

Work will occur in Manching, Germany, and Owego, New York, through May 2022.

The Navy used FMS funds to cover the full obligated amount at the time of award.

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