Lockheed Martin Corp. (LMT: Quote) said it received a $27.1 million contract from the U.S. Army for the first phase of a three-year development program that will increase crew protection and update the Army's fleet of Multiple Launch Rocket System or MLRS M270A1 mobile rocket launchers.
Under the contract, Lockheed Martin will upgrade, assemble and test seven prototype vehicles. Phase one is expected to be followed by a production contract for the Army's entire fleet of 225 vehicles.
During this initial phase, Lockheed Martin will replace the launcher's cab, which expands interior volume by 40 percent and incorporates new energy-absorbing seats that provides additional protection from mine blasts and improvised explosive devices.
Click here to receive FREE breaking news email alerts for Lockheed Martin Corp. and others in your portfolio
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org