Lockheed Martin awarded $328.5 million contract for Taiwan defense systems

Investing.com -- Lockheed Martin Corp. (NYSE: LMT) has secured a $328.5 million contract to produce advanced targeting and navigation systems, with a significant portion designated for Taiwan's Air Force.

The U.S. Department of War awarded the undefinitized contract action to Lockheed's Orlando, Florida facility for the production of Sniper, Infrared Search and Track, and Low Altitude Navigation and Targeting Infrared for Night fixed wing hardware.

The agreement includes the procurement and delivery of 55 Infrared Search and Track Legion Enhanced Sensor pods, processors, pod containers, and processor containers. These systems are being acquired to address an urgent operational need of the Taiwan Air Force.

The contract involves Foreign Military Sales (FMS) to Taiwan, with $157.3 million in FMS funds already obligated at the time of the award. The procurement was made through a sole source acquisition.

Work on the contract will be performed at Lockheed's Orlando facility and is expected to be completed by June 30, 2031. The Air Force Life Cycle Management Center's Electronic Systems Contracting Branch in Warner Robins, Georgia, is serving as the contracting activity for the project.

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