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  • Saturday, April 27, 2024

Lockheed Awarded $905M for US, Indian Maritime Helicopter Production

Lockheed Martin (NYSE: LMT) has secured a $904.8M contract modification to provide MH-60R Seahawk maritime helicopters to the U.S. Navy and its Indian counterpart.

The company will deliver three MH-60Rs to the Navy and 21 aircraft units to India, the Department of Defense said Thursday.

Naval Air Systems Command initially made a $382M undefinitized contract action in November 2018 for the production and delivery of eight helicopters to the service branch.

NAVAIR will obligate $113.1M in fiscal 2020 aircraft procurement funds as well as $791.7M in foreign military sales funds on the modification.

Tom Kane, director of naval helicopter programs at Lockheed's Sikorsky subsidiary, told FlightGlobal that the Navy agreed to provide three units from its brand-new aircraft inventory to the Indian navy so the latter could “begin training on a more accelerated basis than might normally be possible."

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