Lockheed Secures $92M Contract to Update H-60 Helicopters for Navy, Int'l Clients

Lockheed Martin (NYSE: LMT) has secured a potential $92.5M contract to provide support services for H-60 multirole helicopters of the U.S. Navy as well as Australia, Denmark and Saudi Arabia under the foreign military sales program.

The company will update, implement and maintain H-60 software and systems configurations under the cost-plus-fixed-fee contract, the Department of Defense said Monday.

Work will take place in Owego, N.Y., through September 2023. The Navy will obligate $9.4M in fiscal 2019 operations and maintenance funds at the time of award.

Contract figures and percentages are provided below:

Navy: $70,010,000 — 75.68%
Australia: $15,430,000 — 16.68%
Denmark: $3,530,000 — 3.82%
Saudi Arabia: $3,530,000 — 3.82%

H-60 armed helicopters, manufactured by Lockheed’s Sikorsky subsidiary, is designed to support internal and external lift, combat assault, medical evacuation and aerial firefighting missions.

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