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Navy Awards Lockheed Martin, L-3 Contracts For P-3 Wing Repairs

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By Geoff Fein Lockheed Martin [LMT] and L-3 [LLL] have been awarded contracts to provide replacement outer wing kits for the Navy's P-3 Orion aircraft, 39 of which were grounded last year due critical structural fatigue. On Aug. 26, the Navy announced Lockheed Martin received a $129.3 million contract for 13 kits. The company will deliver those to the Navy between March and December 2010. On Aug. 19, L-3 received a $60.6 million contract for delivery of four kits by…

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