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  • Wednesday, April 24, 2024

Lockheed to Build Aegis Equipment Sets for $574M

lockheed martinLockheed Martin (NYSE: LMT) has been awarded a $574, 538, 664 contract to build Aegis Weapon System equipment sets for the U.S. Navy‘s Arleigh Burke destroyer program and could also perform engineering work under an option.

That option under the firm-fixed-price, multi-year contract also includes work for the Aegis Ashore Missile Defense System and Host Nation Poland, the Defense Department said Friday.

The Navy is obligating $308, 360, 317 in fiscal year 2013 shipbuilding and conversion funds at the time of award and no funds will expire at the end of the current fiscal year.

This procurement also includes economic order quantity,  advance procurement funding for production related materials for the multi-year procurement ship sets.

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