U.S. army places $106 million order for 416 Oshkosh JLTV vehicles.

Oshkosh Defense, LLC, an Oshkosh Corporation (NYSE:OSK) company, announced today that the U.S. Army has placed a $106 million order for 416 Joint Light Tactical Vehicles (JLTV) and associated installed and packaged kits. This is the eighth order for JLTVs since the contract was awarded in August 2015.

Oshkosh Defense JLTV vehicle fitted with a Kongsberg Protector LW 30 Remote Weapon System at AUSA 2017, defense exhibition in Washington D.C. (Picture source Army Recognition)

"The JLTV program, currently in Low Rate Initial Production (LRIP), remains a top priority as we continue testing in support of a Full Rate Production decision in Fiscal Year 2019 (FY19)," said George Mansfield, Vice President and General Manager of Joint Programs at Oshkosh Defense. "Working closely with our government customer, we have completed Reliability Qualification Testing, accumulating over 100,000 miles, and have exceeded reliability requirements."

The JLTV program expects the first Army unit equipped by mid-FY19 and both the Army and Marine Corps to achieve Initial Operating Capability (IOC) in early FY20.

The Joint Light Tactical Vehicle (JLTV) is a United States military (specifically U.S. Army, USSOCOM, and U.S. Marine Corps) program to part-replace the Humvee[4] with a family of more survivable vehicles with greater payload. The JLTV program was approved in 2006 to begin early studies.

The contract award has a value of up to US$6.749 billion and calls for a maximum of 16,901 JLTVs, and includes a sustainment element. JLTV manufacturing will be performed in Oshkosh, WI. Oshkosh CEO, Charles Szews, said the production contract award would involve more than 300 suppliers in 31 states across the country.

In September 2011, the American Company Oshkosh unveils next generation of light combat vehicle, the L-ATV Light combat tactical All-Terrain Vehicle. In August 2015, the U.S. Army Tank-automotive and Armaments Command (TACOM) Life Cycle Management Command (LCMC) has awarded Oshkosh Defense, LLC, an Oshkosh Corporation company, a $6.7 billion firm fixed price production contract to manufacture the Joint Light Tactical Vehicle (JLTV).