The upgrade effort will mainly feature the Department of Defense's Future Airborne Capability Environment conformant cockpit, a system that can be used on multiple aircraft and which will extend the operational life of the C-130T by 20 years.
Nine cockpit kits will initially be developed and delivered by Lockheed, the company said.
Other upgrade work will involve delivery and integration of a communication, navigation surveillance/air traffic management capability solution. Display systems aboard the C-130T will also be upgraded.
"This award validates the Navy's confidence in our cockpit solution and expands our product offerings beyond the Common Cockpit for MH-60 helicopters," said Mark Swymeler, vice president, Electronic Product Line at Lockheed Martin's Mission Systems and Sensors business.
"This program is an integral part of the Department of Defense's avionics obsolescence upgrade program and will affordably enhance flight crew situational awareness, productivity and safety."
Lockheed Martin said the upgrade will be completed by early 2016.
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