Lockheed Martin has been awarded a performance based logistics contract to manage the US Navy's aviation tires, a move that would reduce the latter's inventory, warehousing and logistics expenses.
Under the $52m contract, the company will manage all naval aviation tires, including an option for all variants of the F-35 Lightning II tires for a period of three years.
The contract comes with two six-month options, which if exercised will bring the total value of the order to up to $131m.
Lockheed Martin mission systems and training integrated test and logistics vice-president Laura Frank said: "With our SCM+ supply chain management system, Lockheed Martin has accurately forecast tire usage to decrease the amount of warehouse inventory by 80% and provide the navy cost savings since 2001.
"Our team is focused on delivering tires anywhere in the world reliably, affordably and quickly to keep aircraft flying."
Besides the navy, the contract supports Australia, Bahrain, Brazil, Egypt, France, Greece, Italy, Japan, Korea, Spain, Taiwan, Turkey, and the UK under the US foreign military sales programme.
Lockheed Martin and Michelin North America will execute the supply chain management programme in Baltimore, Maryland, US.
The companies worked together for the past 14 years on the initial contract and delivered more than 440,000 tires in a reliable, timely fashion worldwide.
Image: Lockheed Martin and Michelin keep aircraft speeding down the runway by delivering tires all around the world. Photo: courtesy of Lockheed Martin Corporation.