STRATFORD, Conn., July 25, 2016 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) today announced the successful execution of the VH-92A Presidential Helicopter Replacement Program Critical Design Review (CDR), signaling the program is ready to proceed to assembly, test and evaluation.

The joint Sikorsky/Naval Air Systems Command (NAVAIR) VH-92A helicopter program team met in July with key collaborators from government and industry for an in-depth design review.

Throughout the review the VH-92A program team successfully demonstrated that the design meets the system requirements.  Review participants included NAVAIR and industrial partners who took part in the technical presentations.

"This milestone is an important achievement for our program and demonstrates Sikorsky and NAVAIR are well aligned," said Spencer Elani, Sikorsky director, VH-92A helicopter program. "We got here by completing several milestones on or ahead of schedule. We are committed to staying on that track as we head into the building phase of the program."

The U.S. Navy awarded a $1.24 billion fixed-price incentive Engineering and Manufacturing Development (EMD) contract with production options to Sikorsky on May 7, 2014, for 21 operational and two test aircraft.

Initial fielding is planned for 2020, with production concluding in 2023. Under the contract, Sikorsky will use its production S-92® aircraft and integrate government defined mission systems and an executive interior.

"This is an important step forward in the replacement of our presidential fleet of helicopters. The successful CDR demonstrates this helicopter system meets the requirements of the USMC and gives them exceptional mission performance from a platform that is affordable and supportable for this important mission," said U.S. Marine Corps Col. Robert Pridgen, program manager for the Naval Air System Command's Presidential Helicopter's Program Office.

Two Engineering Development Model (EDM) aircraft are undergoing the modification process at Sikorsky's Stratford, Conn., location. First flight of a VH-92A configured aircraft is planned for 2017.

The VH-92A will transport the president and vice president of the United States and other officials. Sikorsky brings unmatched experience and a proven track record to this mission having flown every US commander-in-chief since President Dwight D. Eisenhower. The VH-92A will continue this legacy for decades to come.

This press release contains forward looking statements concerning opportunities for development, production and sale of helicopters. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to changes in government procurement priorities and practices, budget plans, availability of funding and in the type and number of aircraft required; challenges in the design, development, production and support of advanced technologies; as well as other risks and uncertainties including but not limited to those detailed from time to time in Lockheed Martin Corporation's Securities and Exchange Commission filings.

For additional information, visit our website: www.lockheedmartin.com.

About Lockheed Martin

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 112,000 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 2014 were $45.6 billion. 

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SOURCE Lockheed Martin