LOCKHEED MARTIN’S MARITIME AIRCRAFT SOLUTION IS RIGHT FOR MANY COUNTRIES

19 Jun 03. Lockheed Martin [NYSE: LMT] officials said at the Paris Air Show that the company’s solution to meet the U.S. Navy’s requirement for a new maritime patrol aircraft also presents a low risk solution to countries looking to upgrade or acquire maritime patrol capability.

“Using the approach we are formulating for the U.S. Navy, we will have a maritime patrol platform that far and away represents the most cost-effective low risk solution for many countries” said Ted Samples, vice president, Lockheed Martin Special Mission and Reconnaissance Aircraft Programs. “Our unparalleled expertise in maritime patrol gives us tremendous insight into many countries’ requirements. We have an affordable, low risk, readily executable program which will more than meet their needs and will be fully mission capable.”

The Lockheed Martin MMA solution is a transformational weapon system consisting of three primary elements: a weaponized aircraft derived from the proven P-3 Orion; a state-of-the-art mission system that meets all MMA mission requirements today with ample growth capability for the future; and an integrated support system providing high availability at dramatically reduced operation and support (O&S) costs.

In February of this year Lockheed Martin received a $20.5m Naval Air Systems Command contract for Phase II of the Component Advanced Development (CAD) portion of the Navy’s Multi-mission Maritime Aircraft program. Last September, the company received a $7m contract for Phase I CAD work. This CAD Phase II award is for 14 months, with work to be finished in April of 2004.