Lockheed Martin in Owego awarded more than $11.6 million Navy order

OWEGO, N.Y. — Lockheed Martin Corp.’s (NYSE: LMT) Owego plant has been awarded an $11.63 million cost-plus-fixed-fee order against a previously issued contract.

This order provides non-recurring engineering for implementation of retrofit upgrades into Block 1 MH-60S aircraft to add additional capabilities to reach parity with Block 3 aircraft, according to a Monday contract announcement from the U.S. Department of Defense. These efforts include the design and development of retrofit kits, preparation and delivery of associated technical directives, and validation/verification (Val/Ver) of the installations and instructions. Additionally, this order procures two Val/Ver kits, installation of the first kit, and support for Navy-led Val/Ver efforts, the department said.

Work will be performed in Lockheed Martin’s Owego facility and is expected to be completed in July 2024. Fiscal 2022 research, development, test, and evaluation (Navy) funds totaling $10 million will be obligated at the time of award, none of which will expire at the end of the current fiscal year, per the contract announcement. The Naval Air Systems Command in Patuxent River, Maryland is the contracting authority.