(Last Updated On: September 21, 2018)
Award of New Contract by Department of Defense for C-130J Manufacturing
In 2017, the OEM of the C-130 Hercules, Lockheed Martin Corp. was awarded another multiyear contract by the US Government to manufacture additional C-130J manufacturing for USAF, an order encompassing 78 planes to be delivered in a staggered fashion in the coming years. The contract will entails funding of more than US $1 billion to deliver the first set of 32 aircraft in the next three years.
Overall the newly awarded contract will see Lockheed accruing US $5.3 billion in the next five years for delivering USAF various configurations of the Super Hercules aircraft including 13 HC-130Js, 29 standard C-130J-30 (stretched models) and 30 MC-130Js. Not to mention, six KC-130Js will also be delivered to U.S. Marine Corps under the contract.
Multiyear Procurement Plan
The multiyear contract is deemed to bring savings to the US Govt. exchequer as compared to the traditional annual buying methodology of the past. The multi-year contract was materialized owing the newly promulgated U.S. government’s Better Buying Power initiative.
The Lockheed Co. has produced more than 2500 Hercules aircraft, and the cumulative fleet hours surpass a total of 1.3 million flight hours.