Lockheed Martin Corporation (LMT) received a contract from the U.S. Army to provide necessary support to the soldiers in the U.S. and overseas with operations planning, training and logistics to ensure mission readiness.
Per the new contract, Operations, Planning, Training, and Resource Support Services (OPTARSS II), Lockheed is called upon to perform certain services. The company will support flight operation, which includes the airfields and the unmanned aerial vehicles. The company is also entrusted with the deployment of resources, review the requirement of troops and also help in the force protection programs. Lockheed will also support and help in range training, modeling and simulation.
Lockheed is one of the thirteen companies selected for the contract. This five-year contract has a cumulative ceiling value of $2.5 billion for all contractors. Lockheed is likely to have an edge over the others due to its prior experience in supporting the U.S. Army in OPTARSS, the prequel to OPTARSS II.
Lockheed Martin business wing, Global Training and Logistics, which is a leading provider of training and logistics support, will carry out the work. This unit has showcased its expertise in this particular niche of training and support, ensuring a steady and consistent stream of contracts from the defense departments.
In the preceding month, this unit received a contract worth $24 million from the U.S. Marine Corps to provide four new systems and upgrades to 36 of its gunnery trainers for M1-A1 main battle tanks and LAV-25 Light Armored Vehicles. During the same month another contract worth $17.6 million was received from the U.S. Army to provide the Instrumented Ranges / Digital Range Training System.
Lockheed currently retains a Zacks #2 Rank (short term Buy). The company primarily competes with The Boeing Co. (BA) Northrop Grumman Corporation (NOC) and Raytheon Co. (RTN).
Based in Bethesda, Maryland, Lockheed Martin is a global security company that is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
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