Sikorsky Gets $471M Presidential Helicopter Lot II Production Contract

The U.S. Navy has awarded Lockheed Martin’s (NYSE: LMT) Sikorsky subsidiary a two-year, $470.8M contract modification to build additional VH-92A transport aircraft as part of the Presidential Helicopter Replacement Program.

The modification covers low-rate initial production of six lot II helicopters along with six reconfiguration kits for the vehicle's cabin interior, the Department of Defense said Wednesday.

Sikorsky commenced VH-92A LRIP efforts after the service branch awarded the manufacturer a $542M contract in June 2019.

Naval Air Systems Command will obligate the full amount of the modification at the time of award from the service branch's fiscal 2020 aircraft procurement funds.

Fifty percent of contract work will take place in Stratford, Conn., and the remaining 50 percent will occur in Pennsylvania, New York, Maryland and Virginia.

The Pentagon expects Sikorsky to conclude their services by December 2022.

Sponsor