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  • Friday, April 19, 2024

Lockheed Wins $88M for Navy Aegis Systems Engineering

Lockheed Martin Corp. (NYSE: LMT) won an $88, 467, 830 U.S. Navy contract modification to provide engineering services for shipboard Aegis systems, the Defense Department announced Thursday.

The Navy exercised fiscal year 2012 options for systems engineering and modernization on CG 57 and DDG 51-class ships.

Lockheed will perform work under the cost-plus-award-fee, cost-plus-fixed-fee contract in Moorestown, N.J.

The Pentagon expects Lockheed to complete work by December 2012.

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

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