ORLANDO, Fla., Jan. 6, 2016 /PRNewswire/ -- The U.S. Army awarded Lockheed Martin (NYSE: LMT) a $31.8 million contract in December 2015 to sustain the AH-64D/E Apache's targeting and pilotage system, the Modernized Target Acquisition Designation Sight/Pilot Night Vision Sensor (M-TADS/PNVS).
This Performance-Based Logistics (PBL) contract enables M-TADS/PNVS mission readiness, drives reliability and maintainability improvements, and reduces operation and support costs. A total of $31.8 million was obligated to Lockheed Martin through this one-year base contract award with a total value not to exceed $85.5 million. The period of performance is through December 2016, with four additional one-year options that would extend support through December 2020. The total five-year contract value potential is $424 million.
"We work hard to ensure that our PBL customers have the highest availability rates possible, and we back that up with a team of field representatives who stay ready around the clock, around the world," said Mike Taylor, director of M-TADS/PNVS international and sustainment programs at Lockheed Martin Missiles and Fire Control.
The U.S. Army and Lockheed Martin Apache PBL team was honored with 2013 and 2011 Secretary of Defense PBL Awards recognizing outstanding achievements in providing soldiers with exceptional operational support.
Fielded in 2005, M-TADS/PNVS provides Apache pilots with long-range, precision engagement and pilotage capabilities for safe flight during day, night and adverse weather missions. Lockheed Martin has delivered more than 1,350 M-TADS/PNVS systems and spares to the U.S. Army and international customers.
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About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that – with the addition of Sikorsky – employs approximately 126,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
SOURCE Lockheed Martin