Lockheed Martin [NYSE: LMT] received a $49.9 million follow-on production contract from the Naval Surface Warfare Center for the Target Sight System (TSS), the fire control system for the U.S. Marine Corps’ AH-1Z Cobra attack helicopter.

The Naval Surface Warfare Center awarded the initial TSS production contract in March 2008, followed by a second production contract in June 2010. Lockheed Martin delivered the first TSS in June 2009, and recently began early delivery of low-rate initial production units. Production is expected to continue through 2018. TSS is produced at facilities in Ocala and Orlando, Fla.

“Lockheed Martin’s TSS provides AH-1Z aviators with a system they can rely on to effectively support troops on the ground,” said Joseph Butera, senior program manager of airborne systems in Lockheed Martin’s Missiles and Fire Control business. “TSS delivers precise targeting and accurate weapons delivery, while reducing operator workload.”

TSS integrates state-of-the-art sensors to provide aviators with superior imagery through a highly stabilized sensor suite, specifically tailored to the AH-1Z platform. The suite includes a laser designator, color TV camera and a third-generation, mid-wave, forward-looking infrared sensor with advanced image processing.

TSS is one of several high-performance stabilized targeting systems designed, manufactured, tested and supported by Lockheed Martin. The company’s fielded solutions for fixed- and rotary-wing aircraft include Modernized Target Acquisition Designation Sight/Pilot Night Vision Sensor for the U.S. Army, Sniper Advanced Targeting Pod for the U.S. Air Force and the AN/AAQ-39 targeting system for the U.S. Air Force Special Operations Command.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 126,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation’s 2010 sales from continuing operations were $45.8 billion.