U.S. Navy Awards Lockheed Martin $24 Million in Contracts for Cost-saving Enhanced Laser Guided Training Rounds

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Jun 08, 2015, 09:30 ET

ARCHBALD, Pa., June 8, 2015 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) received $24.2 million in contracts from the U.S. Navy to produce Enhanced Laser Guided Training Rounds (ELGTR), a cost-effective alternative to using operational laser-guided bombs (LGB) during training.

ELGTR emulates the flight characteristics of Paveway^TM II laser-guided weapon systems and presents pilots with the same information they would see in an actual mission.

"ELGTR is the most cost-effective and reliable live-fire direct attack training solution that allows users to conserve tactical weapon inventory," said Joe Serra, precision guided systems manager at Lockheed Martin Missiles and Fire Control. "U.S. and allied warfighters continue to rely on ELGTR to maintain combat readiness against challenging operational target engagements."

The award represents the third order under the 2013 ELGTR contract. As part of the contract, Lockheed Martin will deliver ELGTRs and associated technical data, as well as refurbish U.S. government shipping containers.

Lockheed Martin has produced more than 140,000 advanced training rounds for the U.S. Navy, Marine Corps and international customers since LGTR production began in 1992. Recognized worldwide as the only live-fire LGB training solution for warfighters, the ELGTR is compatible with F/A-18, AV-8B, F-16 and various international aircraft platforms.

In addition to ELGTR, Lockheed Martin's 350,000-square-foot production facility in northeastern Pennsylvania designs and manufactures combat-proven Paveway II Plus LGB kits. The company has delivered training rounds, more than 70,000 LGB kits and 7,000 Dual Mode LGB kits to the U.S. Navy, Marine Corps, Air Force and 20 international customers.

For additional information, visit our website: www.lockheedmartin.com.

About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 112,000 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 2014 were $45.6 billion.

PAVEWAY is a registered trademark of a third party in the EU and several other countries and is used by Lockheed Martin Corporation under license.

SOURCE Lockheed Martin