Author: Scott Nicholas|| Date Published: November 7, 2017
Lockheed Martin (NYSE: LMT) has received a potential $260 million contract modification from the U.S. Navy to help modernize four P-3B maritime patrol aircraft for the government of Greece.
The Defense Departmentsaid Monday Lockheed’s aeronautics business unit will support phased depot maintenance as well as avionics and country-specific mission and management systems upgrades under the modification.
DoD noted the services are part of a mid-life upgrade effort to extend the service life of each Greek P-3B unit by 15,000 flight hours.
The Naval Air Warfare Center Aircraft Division is the contracting activity and the service branch will obligate $59.5 million in foreign military sales funds at the time of award.
Work under the modification will occur in California, Georgia, North Carolina, Washington, Canada, Greece and Israel through December 2023.
Lockheed Martin (NYSE: LMT) has received a potential $260 million contract modification from the U.S. Navy to help modernize four P-3B maritime patrol aircraft for the government of Greece.
