FAA extends Lockheed Martin contract for transoceanic air traffic management

US aviation authority The Federal Aviation Administration said it has extended US aerospace firm Lockheed Martin´s (NYSE: LMT) contract to enhance air traffic management technology that enables safe and efficient travel within US-controlled airspace over the Atlantic and Pacific oceans.

For the past 12 years, Lockheed Martin has provided systems engineering and operational support for the FAA´s Advanced Technologies and Oceanic Procedures program. The contract extension provides the FAA with options for future enhancements to transoceanic air traffic management software and hardware.

Options include deploying ATOP systems at FAA offshore facilities; establishing an ATOP simulation and training system; and providing an ATOP system for the FAA´s NextGen air traffic management facility planned on the East Coast.

The contract has one base year, and if seven, one-year options are exercised, the total extension would be valued at more than USD 500m.

Lockheed Martin is a global security and aerospace company that employs about 116,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services.

Find out more at www.lockheedmartin.com.

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