
A Navy official on Monday said the service is reducing the cost of the CH-53K King Stallion heavy lift helicopter program as it contracts for nine more and also expects to declare Initial Operational Capability (IOC) by the fall. Last Friday, the Navy awarded Lockheed Martin’s [LMT] Sikorsky unit a $736 million contract to build nine Low Rate Initial Production Lot 5 CH-53Ks for the Marine Corps along with an option for nine more aircraft in a follow-up Lot 6…