C-130. Photo: Air Force.
The Air Force on Friday awarded Lockheed Martin [LMT] a sole source contract potentially worth $10 billion for C-130J production work, according to a Defense Department statement.
The contract is an indefinite-delivery/indefinite-quantity (ID/IQ) deal with a cumulative ceiling to cover all future delivery orders within scope. Work is expected to complete by Aug. 18, 2026. The contract involves foreign military sales (FMS).
Lockheed Martin develops the C-130J.