Navy Taps Lockheed Subsidiary for Helicopter Logistics, Repair Under $717M Contract

Lockheed Martin‘s (NYSE: LMT) Sikorsky Aircraft subsidiary has received a $717.4M sole-source contract to perform logistics and repair services for 98 components of the U.S. Navy‘s CH-53 and MH-53 helicopters.

The service branch will allot $142.7M to finance the firm-fixed-priced, performance-based logistics contract’s delivery order, the Defense Department said Wednesday.

The company will work to manage and maintain the helicopters’ weapon and related shop replaceable assembly components.

Work will take place in Stratford, Conn. and Cherry Point, N.C. over a 50-month period ending December 2022.

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