(By Balaseshan) Lockheed Martin Corp. (NYSE: LMT) said it has received two production contracts totaling $161.7 million from the U.S. Army for Apache attack helicopter M-TADS/PNVS upgrades.
The Bethesda, Maryland-based security and aerospace company will continue upgrades of the Modernized Target Acquisition Designation Sight/Pilot Night Vision Sensor (M-TADS/PNVS) program for the Apache attack helicopter.
With the addition of these contracts, production at Lockheed Martin Missiles and Fire Control's facilities in Ocala and Orlando, Florida, will be sustained through third quarter 2016.
The Lot 2 and Lot 3 contracts include 482 Modernized Day Sensor Assembly (M-DSA) Modernized Laser Rangefinder Designator (M-LRFD) kits and spares. The U.S. Army ordered 92 M-DSA M-LRFD kits and spares for Lot 1 in February 2012, and the first of those units will be delivered in early 2013.
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In a separate release, the company said its second-generation Aegis Ballistic Missile Defense (BMD) system achieved its first intercept using tracking information from the space tracking and surveillance system demonstration satellites during a Missile Defense Agency (MDA) test.
The system successfully launched and guided a Standard Missile-3 Block IA guided missile to engage a medium range unitary ballistic missile target using remote tracking information from the satellites that was integrated through the Command and Control, Battle Management, and Communications (C2BMC) system.
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The MDA and Navy are jointly developing Aegis BMD as part of the United States' Ballistic Missile Defense System. Currently, 26 U.S. Aegis BMD-equipped warships have the certified capability to engage ballistic missiles and perform long-range surveillance and tracking missions. That number is expected to increase to 32 by 2014.
LMT is trading down 0.45% at $86.87 on Wednesday. The stock has been trading between $80.14 and $96.52 for the past 52 weeks.