ARCHBALD, Pa., Nov. 11, 2014 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) received a $40.3 million contract from the U.S. Air Force for follow-on production of Paveway™ II Plus Laser Guided Bomb (LGB) kits.

The contract represents the majority share of fiscal year 2014 funding and the eighth award under the five-year indefinite delivery, indefinite quantity contract. Deliveries will begin in June 2015 and will include computer control groups and airfoil groups for GBU-10 and GBU-12 bombs. The Paveway II Plus LGB kits incorporate an upgraded laser guidance package, significantly improving overall system performance and precision.

"Lockheed Martin is focused on continuous improvement in our current and emerging line of precision guided systems so we can deliver exceptional capability at the best value to the warfighter," said Joe Serra, precision guided systems manager at Lockheed Martin Missiles and Fire Control. "This contract extends U.S. Air Force production at our Archbald, Pennsylvania, facility through first quarter 2016."

The Paveway II Plus LGB kit consists of a MAU-209C/B computer control group containing the electronic guidance system and an airfoil group to provide lift and stability to the weapons in standard GBU-10 MK-84 (2,000 lb.), GBU-12 MK-82 (500 lb.) and GBU-16 MK-83 (1,000 lb.) series configurations.

Lockheed Martin is a qualified provider of all three Paveway II MK-80 series LGB variants and is the sole provider of the Enhanced Laser Guided Training Round and Dual Mode LGB kits. The company has delivered more than 135,000 training rounds, more than 70,000 Paveway II LGB kits and 7,000 dual mode systems to the U.S. Navy, Marine Corps, Air Force and 20 international customers - all designed and manufactured at Lockheed Martin's 350,000-square-foot production facility in Archbald, Pennsylvania, one of IndustryWeek magazine's "Best Plants" for 2013.

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 113,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's net sales for 2013 were $45.4 billion.

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PAVEWAY is a registered trademark of a third party in the EU and several other countries and is used by Lockheed Martin Corporation under license.

SOURCE Lockheed Martin