Lockheed Martin Corp.LMT has won a contract from the U.S. Army for work on Sensor Systems - Aerial Intelligence, Surveillance and Reconnaissance ("SS-AISR"). With an initial term of one year, the contract offers two one-year options and has been valued at $733 million.
LOCKHEED MARTIN Price
Per the contract, Lockheed will provide support services to the Army Contracting Command's Aberdeen Proving Ground for upgrading sensor equipment and platforms to support the collection of data for AISR, air- and ground-based processing, utilization and propagation for missions around the globe.
The contract was secured through the Rapid Response 3rd Generation program.
The company's business unit, Information Systems & Global Solutions (IS&GS), will provide a team to control, operate, guide and maintain reliable and competent systems, equipment, facilities and logistical infrastructure to support operations, sustainment and improvement in performance of equipment in addition to lowering life-cycle costs for the supported systems.
The team will also execute airborne sensor operator, sensor maintainer, intelligence analyst and airborne crew coordination training for soldiers in stateside locations as well as worldwide.
The transition period of the contract will begin in late May and run through late July. If the two options are exercised, work could extend through Mar 2019.
Lockheed Martin is the largest U.S. defense contractor, with a platform-centric focus that guarantees a steady inflow of follow-on orders from its leveraged presence in the U.S. Army, Air Force, Navy and IT programs. The company's diverse product offerings allow it to enjoy a consistent stream of orders from the U.S. and allied partners.
Lockheed Martin currently has a Zacks Rank #3 (Hold).
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