Sikorsky Gets $479M Navy Contract Modification to Build More Presidential Helicopters

Lockheed Martin's (NYSE: LMT) Sikorsky Aircraft subsidiary has received a $478.6 million contract modification from the U.S. Navy to build a third batch of new presidential helicopters.

The Navy is procuring five additional VH-92A low-rate initial production units, two cabin interior reconfiguration kits, spare parts and support equipment and contractor services for the Presidential Helicopters Replacement Program, the Department of Defense said Friday.

DOD noted the branch will use fiscal 2021 aircraft procurement budgets on this award and expects the helicopter manufacturer to complete work in December 2023.

Fifty percent of the work will occur in Stratford, Connecticut, and the remaining 50 percent will take place in Pennsylvania, New York, Maryland, Virginia and Arizona.

Sikorsky received a $470 million in contract funds last year to produce lot 2 VH-92As.

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