Lockheed Martin has been awarded a contract by the Air Force for the Sniper Advanced Targeting Pod, a precision targeting system for air-to-air and air-to-ground missions.

The $961.1 million deal, announced Monday by the Department of Defense, comes under the terms of an indefinite-delivery, indefinite-quantity, firm-fixed-price, cost-reimbursable contract, which is a cost-reimbursement deal that could potentially provide additional funds to Lockheed Martin if the company accumulates cost overruns.

The contract taps Lockheed Martin for "sustainment, modernization and development" of the Sniper Advanced Targeting Pod.

The system can be integrated on various fighter and bomber aircraft, including, the F-15 Eagle, F-16 Fighting Falcon, F/A-18 Hornet, B-1 Lancer, B-52 Stratofortress, A-10 Thunderbolt II and F-2, according to Lockheed Martin.

Work on the contract will occur in Florida and Georgia, and is expected to be completed by December 2022.

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