The U.S. Navy has awarded a joint venture of Lockheed Martin Corp (LMT.N) and Sikorsky Helicopter a contract worth $2 billion to service the Navy's H-60 helicopters through Jan. 31, 2020, the Pentagon announced on Friday.

The fixed-price contract covers "performance-based logistics" on 1,710 assemblies and components, and covers the repair, modification, overhaul and replacement of hardware for the Navy's fleet of H-60 helicopters.

The contact was awarded to Marine Helicopter Support Co, a joint venture of Lockheed and Sikorsky, is a unit of United Technologies Corp (UTX.N).