Lockheed Secures $969 Million Contract For 17 C-130J Aircraft

C-130 Hercules

Lockheed Martin has won a $969 million to build 17 C-130J military transport aircraft. News of the winning bid was released by the Pentagon on Wednesday.

The contract will be fulfilled by April 2020, the Department of Defense said.

Lockheed recently said it had reached a verbal agreement with the U.S. Air Force to build up to 83 C-130J transport planes. The aircraft will be used in 16 countries.

Lockheed has either delivered or is preparing to deliver 330 of the turboprop planes.

The C-130 J SUper Hercules transport planes are used by the Air Force, Coast Guard, and Marine Corps

The planes, which are able to touch down on austere landing zones, are used primarily  for humanitarian relief missions, special operations, aerial refueling, close air support, and search and rescue. They were built with the ability to land on makeshift runways.

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Written by Lane Hanson

Lane Hanson

Lane Hanson is BusinessPundit's Economy Editor. He reports on major changes in the US and Global Economies.