Lockheed Martin's Sikorsky secures about $11 billion US navy contract

(Reuters) -Lockheed Martin said on Friday its subsidiary, Sikorsky, has secured a nearly $11 billion contract from the U.S. Navy to build up to 99 CH-53K King Stallion helicopters.

It is the largest order to date for the aircraft, the defense company said. The helicopter, which has three 7,500 shaft horsepower engines, is used to help transport troops, supplies and heavy equipment.

The five-year contract will allow the U.S. government to buy up to 99 CH-53K aircraft for the Marine Corps or to fulfill orders from international military customers.

Sikorsky will deliver the aircraft between 2029 and 2034.

Last month, the unit recieved a $1.6 billion order for five Seahawk maritime helicopters and two Airbus jets from New Zealand.

In July, Lockheed Martin reported an 80% drop in profit, after it recorded a pre-tax loss of $1.6 billion, mainly linked to a classified program within its Aeronautics segment.

(Reporting by Aishwarya Jain in Bengaluru; Editing by Shinjini Ganguli)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Eli Lilly's weight-loss pill secures first European nod in Britain
• FAA to pause flights at Washington airport to support Freedom 250 Grand Prix
• Trump administration has revoked more than 175,000 visas, State Department says