Lockheed Martin (NYSE: LMT) has received a potential $386 million contract modification from the U.S. Air Force to continue support work on the military branch’s intercontinental ballistic missile system.
The Defense DepartmentÂ said WednesdayÂ Lockheed’s space systems businessÂ will support theÂ re-entry systems and vehicle subsystems of the Minuteman III ICBM.
USAF awarded the company a potential $452 million contractÂ in June 2014 to help sustain hardware and software components of theÂ Minuteman III re-entry subsystem.
DoD noted the Air Force Nuclear Weapons Center is the contracting activity and the service branch did not obligate funds at the time of award.
Contract work will occurÂ through June 4, 2022, in Pennsylvania and other locations such as the Hill Air Force Base in Utah.