Lockheed Martin Wins $65 Million JLTV Engineering And Manufacturing Development Phase

Published on Thursday, 23 August 2012 17:41 Written by TradersHuddle Staff

DALLAS, Aug. 23, 2012 /PRNewswire/ -- Lockheed Martin [NYSE:LMT] received a $65 million contract from the U.S. Army and U.S. Marine Corps to continue developing the Joint Light Tactical Vehicle (JLTV) through the Engineering and Manufacturing Development (EMD) phase.

(Photo: http://photos.prnewswire.com/prnh/20120823/DA62266)

The Lockheed Martin team optimized a JLTV model already proven in government testing to create its EMD design. The production-enhanced JLTV maintains the proven force protection, mobility, transportability and reliability of the earlier Technology Demonstration (TD) model, while significantly reducing weight and cost. The team's JLTV design reflects improvements from more than 160,000 combined testing miles.

"We are extremely pleased to announce the selection of the Lockheed Martin JLTV design as one of three mature vehicles selected to enter the Engineering and Manufacturing Development Phase of the JLTV Program," said Col. David Bassett, project manager at the JLTV Joint Program Office. "We are confident that the Lockheed Martin team, along with the other two selected vehicles, are ready to demonstrate their ability to meet and exceed our requirements, deliver vehicles on schedule, and achieve the manufacturing and sustainment costs necessary to compete effectively for production."

Formed in 2005, the Lockheed Martin-led JLTV team includes tactical wheeled vehicles expertise at BAE Systems in Sealy, Texas, which is an industry leader in advanced armor solutions and high volume assembly. The team also includes numerous Tier 1 suppliers, including: Allison Transmission, Cummins Engine, L3 Combat Propulsion Systems, Meritor Defense, Robert Bosch LLC and Vehma International of America.

"We've had a consistent team since day one, and this win highlights the merits of a stable, proven design," said Scott Greene, vice president of ground vehicles at Lockheed Martin's Missiles and Fire Control business. "Two JLTVs have been produced on an active manufacturing line, so we are already well prepared for rapid production and testing."

The firm fixed-price contract has a 27-month performance period with deliveries of 22 vehicles taking place within 12 to 14 months. Primary variants with companion trailers include the utility carrier and shelter (JLTV-UTL), a two-seat prime mover with an open bed; and the general-purpose vehicle (JLTV-GP), which is a four-seater that will carry troops, ammunition and small supplies.

Lockheed Martin's JLTV EMD vehicles are more affordable than their predecessors, offering lower-cost materials with high fuel efficiency and low logistical support costs.  The vehicles offer enhanced crew safety based upon government tests that show the design meets the high blast-protection standards, with margin, of many existing mine-resistant vehicles serving in combat today. Additionally, the Lockheed Martin team shaved hundreds of pounds off the TD design, which was already proven in helicopter lift tests.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 120,000 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 2011 were $46.5 billion.

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SOURCE Lockheed Martin