Defense contractor Lockheed Martin Corporation (LMT) received a contract from Flight Safety Services Corporation to manage the C-5 Training Systems Support Center and formal training unit at Lackland Air Force Base, Texas, for a period of one year.
The scope of Lockheed Martin’s work under the contract includes managing hardware, software and courseware, maintaining simulator certifications to Air Force specifications and overseeing the operations of the training management system.
Under the C-5 Aircrew Training System (ATS) program, Lockheed Martin will provide total training support for all C-5 pilots, flight engineers, loadmasters and engine maintenance personnel.
Additionally, the contract also entails providing logistical training support for six other training locations including the Dover Air Force Base, Delaware; Travis Air Force Base, California; Martinsburg Air National Guard Base, West Virginia; Memphis Air National Guard Base, Tennessee; Stewart Air National Guard Base, New York; and Westover Air Reserve Base, Massachusetts.
Valued at $5.8 million the contract also has four one-year extension options. Should they be exercised, the total contract value would reach $30 million.
Lockheed Martin Global Training and Logistics, a unit of Lockheed Martin, is in charge of all training and logistics contracts that the company receives. This unit draws on its legacy of training expertise, including work as prime contractor on U.S. Air Force training programs such as the C-130 Aircrew Training System II, C-130J Maintenance and Aircrew Training System schoolhouses, Aircrew Training and Rehearsal Support II for Special Operations Forces and F-35 Lightning II.
Internationally, Lockheed Martin provides flight training for all three military services in the United Kingdom through the U.K. Military Flying Training System program, as well as the Singapore Air Force through the Basic Wings Course program.
Based in Bethesda, Maryland, Lockheed Martin is a global security company principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The company’s major customers include the U.S. government, foreign governments, and other commercial buyers.
Lockheed Martin currently retains a Zacks #3 Rank, which translates into a short-term Hold rating. We maintain our Neutral recommendation on the stock. Lockheed Martin’s major peers General Dynamics Corporation (GD) and The Boeing Company (BA) also retain a short-term Zacks #3 Rank.
BOEING CO (BA): Free Stock Analysis Report
GENL DYNAMICS (GD): Free Stock Analysis Report
LOCKHEED MARTIN (LMT): Free Stock Analysis Report
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment