Lockheed Martin receives $1B Navy contract

Friday - 4/6/2012, 8:59am EDT

Lockheed Martin Mission Systems and Sensors has received a $1 billion contract from the Naval Air Systems Command, the Defense Department said. Lockheed will provide new avionics and display systems for military aircraft.

The firm, fixed price contract will run through fiscal year 2016. Final work will take until 2018. Lockheed's Mission Systems and Sensors is based in Owego, N.Y., where most of the work will be performed. The company's common cockpit replaces analog instruments with so-called all-glass displays. They are used in the Navy's Romeo and Sierra helicopters.

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