Lockheed Wins $148M to Integrate Navy Aegis System

Lockheed Martin (NYSE: LMT) won a $148.5 million U.S. Navy contract modification to provide an Aegis weapon system, the Defense Department said Wednesday.

Lockheed will produce and integrate the system for the Navy’s DDG 116 guided-missile destroyer.

Lockheed will also purchase material assemblies to support a host nation of the Aegis missile defense system.

The Pentagon expects work to complete by January 2017.

The Naval Sea Systems Command in Washington is the contracting activity.

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