(By Balaseshan) Lockheed Martin Corp. (NYSE:LMT), a global security and aerospace company, said it has submitted its bid for the Medium-range Ballistic Missile Targets contract to the U.S. Missile Defense Agency (MDA).
The Lockheed Martin-led industry team completed delivery of the proposal today, June 8, to the MDA's Targets and Countermeasures Directorate in Huntsville, Alabama. The contract will provide Medium-range Ballistic Missile (MRBM) Targets to support Ballistic Missile Defense System element and system flight tests.
Requirements include development and manufacturing of MRBMs, integrated logistics support to include inventory storage and maintenance, pre- and post-mission analysis, launch preparation and execution and engineering services. The MDA issued the final request for proposal April 18 and anticipates contract award in 2012.
Lockheed Martin has named Brian Kelly program manager. Under the proposal, Lockheed Martin will perform engineering and program management in Huntsville and production in Courtland, Alabama.
The Lockheed Martin-led team includes: Cummings Aerospace, Huntsville; Davidson Technologies Inc., Huntsville; IERUS Technologies Inc., Huntsville; and Orbital Sciences Corp., Chandler, Arizona.
To meet the government's requirements, Lockheed Martin will apply more than 15 years of experience as a leading provider of target missiles for missile defense testing. Lockheed Martin has achieved an unmatched 98% success rate in 42 out of 43 target missions since 1996, including legacy and next-generation ballistic missile targets.
LMT is trading down 0.01% at $83.14 on Friday. The stock has been trading between $66.36 and $92.24 for the past 52 weeks.