Lockheed Martin, a Bethesda-based researcher, designer, developer and manufacturer of advanced technology, announced the signing of a $380 million contract with the U.S. military.
A four-year deal, the performance-based logistics contract is for Lockheed to support the Target Acquisition Designation Sight-Pilot Night Vision Sensor and to modernize the same system on the AH-64 Apache helicopter.
The first year of the deal is valued at about $123 million.
“This … program will reduce the length of the supply pipeline, enabling the U.S. Army to receive spare parts more quickly,” Dave Bevlin, a Lockheed product support manager, said in a statement. “More efficient supply management will reduce operation and support cost burdens, providing funds for continuing system modernization and reliability improvements.”
As of Monday, shares of Lockheed were trading at $99.02, up 18 cents, or 0.18 percent.
