Sikorsky Gets $550M Navy Contract Modification to Build Additional Heavy-Lift Helicopters

Lockheed Martin's (NYSE: LMT) Sikorsky subsidiary has been awarded a $550.4M contract modification to produce Lot IV of CH-53K helicopters for the U.S. Navy's heavy-lift missions

Sikorsky will provide six low-rate initial production airlifters along with support services such as logistics, configuration audits and tooling, the Department of Defense said Monday.

DoD expects the aircraft manufacturer to complete work by July 2024 and noted that fiscal 2020 and 2021 aircraft procurement funds are being used on this award.

The sea-based CH-53K is designed to support expeditionary transport of military troops, cargo and armored vehicles.

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