Lockheed Martin Gets $1.2 Billion Contract

Lockheed Martin in partnership with Sikorsky Aircraft has officially landed the $1.28 billion contract to build a new fleet of combat rescue helicopters. The U.S. Air Force announced on Thursday that Sikorsky will be providing the helicopters and Lockheed Martin Mission Systems and Training, in Owego, will be tasked with handling the new fleet’s modernized mission systems. This contract marks the first step of what will likely end up being development of 112 combat rescue helicopters, a project with a potential value close to $8 billion. The work is expected to be complete by June of 2029, and according to the U.S. Department of Defense, about $298 million in funds from this fiscal year and the last fiscal year are being committed at the time of the award. This is just the latest in a string of exciting developments for Lockheed in Owego, as construction is already currently taking place on their $19.3 million Manufacturing Center of Excellence in Owego, which is expected to create 130 jobs, and the company is in the process of transitioning jobs from its Akron, Ohio site to Owego. That transition is expected to take place over the next 18 months. Back in early May, the U.S. Navy also announced that the Lockheed-Sikorsky team had won the $1.2 billion contract to build the next fleet of presidential helicopters.