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Lockheed Receives $1.4B Contract to Maintain Air Force C-130J Transport Planes

Lockheed Martin (NYSE: LMT) has secured a $1.42 billion sole-source contract to provide logistics and mission sustainment services to the U.S. Air Force’s fleet of military transport planes.

The AF Life Cycle Management Center is obligating $91 million in fiscal 2022 operations and maintenance funds at the time of the award and expects the company to finish contract work by Jan. 31, 2032, the Department of Defense said.

Services will take place at Lockheed’s facility in Marietta, Georgia.

In July 2020, the aerospace and defense company received a 10-year, $15B contract from the Air Force to develop, manufacture and retrofit all variants of the C-130J aircraft.

The service branch uses the Super Hercules fleet to transport equipment and personnel into hostile areas and perform airlift activity in aeromedical, weather reconnaissance, aerial spray and disaster relief missions.

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