Air Force Adds Lockheed to $499M Aerospace Platform R&D Contract

Lockheed MartinÂ (NYSE: LMT) has won a spot on aÂ potential eight-year, $499 million contract from the U.S. Air Force to research and develop new aerospace vehicle technologies for warfighters.

The Defense Department said Thursday Lockheed will support the Aerospace Systems Air Platform Technology Research program inÂ Fort Worth, Texas, through 2025.

Northrop GrummanÂ (NYSE: NOC) and Aurora Flight SciencesÂ wereÂ initially awardedÂ positions under the indefinite-delivery/indefinite-quantity contract.

Six proposals were submitted to the Air Force Research Laboratory for the shared IDIQ through a competitive procurement process.

The obligated amount of $100,000 to each contractor is from the service branch’s fiscal 2017 research and development funds.

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