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Lockheed Wins $100M For Navy Shipboard Aegis Updates

LockheedLogoLockheed Martin (NYSE: LMT) has won a $100, 685, 094 contract to update weapon and combat systems onboard U.S. Navy cruisers and destroyers.

The company will also update Aegis Weapon System and Aegis Combat System for future surface combatant Aegis ship classes, the Defense Department said Monday.

The Aegis Combat System Engineering Agent program includes design, development, integration and testing work for computer baselines.

Lockheed will also help install technology hardware and provide the Navy training and studies.

At the time of award, Lockheed will receive $2, 924, 119 in incremental funds and $50, 000 will expire at the end of the current fiscal year.

Work under the cost-plus-incentive-fee, cost-plus-fixed-fee contract is scheduled to complete by May 2018.

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