Lockheed Martin announced on Friday that its subsidiary Sikorsky has won a contract worth nearly $11 billion from the U.S. Navy for up to 99 CH53K King Stallion helicopters.

The defense company stated that this is the largest aircraft order ever. The helicopter has three engines with a combined 7,500 horsepower. It is used for transporting troops, heavy equipment and supplies.

The contract, which runs for five years, allows the U.S. Government to purchase up to 99 CH53K aircraft to be used by the Marine Corps and to fill orders from foreign military customers.

Sikorsky is scheduled to deliver the aircraft in 2029-2034.

The unit received a $1.6billion order from New Zealand for five Seahawk helicopters and two Airbus aircrafts.

Lockheed Martin announced a 80% decline in profits after recording a $1.6 billion pre-tax loss, mostly linked to a secret program within the Aeronautics division. (Reporting by Aishwarya Jain in Bengaluru; Editing by Shinjini Ganguli)

(source: Reuters)