Lockheed Martin announced today that they have won a $100.5 million dollar laser-guided bomb contract.
The contract is signed with the United States Air Force who will receive paveway II Plus Laser Guided Bomb (LGB) GBU-12 guidance kits.
Lockheed Martin said in a company statement, “The award to Lockheed Martin represents the majority share of an initial $134 million Paveway II Plus LGB procurement, part of an overall $475 million five-year, firm-fixed-price, multiple-award contract announced by the U.S. Air Force on August 1.”
Delivery of the armaments will begin sometime in 2012. The GBU-12 guidance kits consist of an integrated MAU-209C/B computer control group that has the electronic guidance system within it. The kit also includes a MXU-650 air foil group which provides lift and stability.
Lockheed Martin also said in a company statement, “The Lockheed Martin paveway II Plus LGB raises the bar in performance for paveway II accuracy and precision,” said Joe Serra, senior manager for precision guided systems in Lockheed Martin’s Missiles and Fire Control business. “This contract is a testament to our commitment to continuous product improvement, combined with our ability to deliver a better performing product to our customer at the lowest cost.”
The company is confident that the new LGB kits will improve accuracy and reduce potential collateral damage. The company also mentioned that the kits can be fitted to United States Air Force and Navy platforms, including international aircraft platforms which are authorized for LGB’s.
To date, Lockheed Martin has delivered more than 55,000 LGB kits.
Photo Credit: Lockheed Martin.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.