Lockheed Martin Wins More Work from U.S. Air Force

Lockheed Martin is fractionally lower after the company said it won a new contract and extended a second contract to sustain and modernize the U.S. Air Force’s intercontinental ballistic missile (ICBM) reentry systems.

It said it won a competition in June to produce seven units of reentry field support equipment and four sets of additional support equipment for the Air Force’s Minuteman III ICBM system. The nearly four-year, firm, fixed price contract is valued at $50 million, and work began last month.

Separately, the Air Force extended an existing weapon system integration contract for ICBM reentry vehicle integration and modernization. The modification increased the contract value by $10.6 million to nearly $107 million over five years.