KING OF PRUSSIA, Pa., June 12, 2014 /PRNewswire/ -- Lockheed Martin [NYSE: LMT] received a contract from the U.S. Air Force with an initial value of $109 million for sustainment of the reentry subsystem for the Minuteman III intercontinental ballistic missile (ICBM).
Lockheed Martin's work will include repair, modification and testing of hardware and software components in the reentry system-reentry vehicle (RS-RV) subsystem, as well as related support equipment. The contract is part of the Air Force's Future ICBM Sustainment and Acquisition Construct, which is designed to ensure a safe, secure and reliable Minuteman III weapon system through 2030.
"This award represents an exciting new chapter in Lockheed Martin's 50-year partnership with the Air Force ICBM enterprise," said Doug Graham, vice president of ICBM and advanced programs, Lockheed Martin Space Systems Company. "This new contract will enable us to directly apply our specialized expertise to more effectively support this critical national mission area."
As an example of this expertise, Lockheed Martin developed a process for refurbishing the 25-year-old arming and fuzing assemblies for the MK21 reentry vehicle at a fraction of the cost of producing new units. The intricate procedure replaces or reconditions electronic and mechanical components, extending the units' service life to support the Minuteman III through 2030. The company delivered the 100th refurbished unit to the Air Force in May. In parallel, Lockheed Martin is working with the Air Force to support its refurbishment activities at Hill Air Force Base, Utah.
The base period of performance for the RS-RV contract is one year, and with options for an additional four years, the total potential contract value is $452 million. Lockheed Martin will perform work principally at Hill Air Force Base, where the ICBM System Program Office is located, and in King of Prussia, Pennsylvania.
Lockheed Martin has been the principal designer, manufacturer and sustainer of Minuteman III reentry systems since the 1960s.
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 113,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation's net sales for 2013 were $45.4 billion.
SOURCE Lockheed Martin