(By Balaseshan) Lockheed Martin Corp. (NYSE: LMT) said it has received a contract worth $30 million from the U.S. Naval Air Systems command to integrate new avionics and software on multiple C-130T aircraft as part of its avionics upgrade program.
Under the contract, Lockheed Martin will incorporate the Department of Defense's Future Airborne Capability Environment conformant cockpit, which gives the Navy unprecedented flexibility capability for reuse across multiple aviation platforms.
Lockheed Martin also will develop and deliver nine initial cockpit kits, providing the Navy with the ability to outfit its C-130T aircraft with the latest avionics and software technology, extending the fleet's mission capability for an additional 20 years.
[Related -Lockheed Martin Corporation (NYSE:LMT): How A Small Budget Deal Impacts Defense Contractors?]
The contract includes a communication, navigation surveillance/air traffic management capability solution, complete display system upgrade, and will provide significantly improved human machine interface. Work will be performed in Owego, New York, and is expected to be complete in the first quarter of 2016.
In a separate release, the U.S. Air Force and Lockheed Martin have completed on-orbit testing of the second Advanced Extremely High Frequency (AEHF) military communications satellite. Following successful spacecraft testing, Satellite Control Authority (SCA) was turned over to the 14th Air Force at Vandenberg Air Force Base, California, for operations.
[Related -Lockheed Martin Corporation (LMT): iStock's #1 Growth And Income Stock]
AEHF-2 launched May 4, 2012 aboard a United Launch Alliance Atlas V rocket. After successful spacecraft deployments and payload activation, the satellite has now completed all on-orbit testing.
The on-orbit testing demonstrated both interoperability with the existing Milstar constellation and established communications networks between combinations of EHF communications terminals with legacy Milstar data rates, as well as at the new AEHF extended data rates (XDR).
Lockheed Martin is currently under contract to deliver four AEHF satellites and the Mission Control Segment. The program has begun advanced procurement of long-lead components for the fifth and sixth AEHF satellites.
AEHF-1 and AEHF-2 have both launched and are on orbit. Lockheed Martin has completed work on AEHF-3 and will prepare the satellite for a September 2013 launch date.
LMT is trading down 0.53 percent at $89.70 on Wednesday. The stock has been trading between $72.37 and $95.92 for the past 52 weeks.