Sikorsky Secures $125M Navy Contract for Lot 5 CH-53K Production Items

Lockheed Martin's (NYSE: LMT) Sikorsky subsidiary has been awarded a $125.4M contract from the U.S. Navy to obtain long-lead materials needed to manufacture a fifth batch of CH-53K heavy-lift helicopters.

The advance acquisition contract will fund long lead items for seven lot 5 low-rate initial production units of the King Stallion platform, the Department of Defense said Thursday.

Naval Air Systems Command will obligate the full contract amount from the branch's fiscal 2020 aircraft procurement funds. Sikorsky will perform work in Stratford, Conn., through August 2021.

CH-53K is designed to transport U.S. Marines, heavy equipment and supplies from amphibious assaults to destinations ashore.

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