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Lockheed Martin Sails into Weekend with Navy Deal

According to the Department of Defense, “Lockheed Martin (NYSE: LMT) is being awarded an $83, 815, 466 cost-plus-incentive-fee contract to design and manufacture hardware for the Acoustic Rapid Commercial-Off-The-Shelf Insertion (A-RCI) system improvement and integration program.  The contract provides funding for the development and production of the A-RCI and common acoustics processing for Technology Insertion 12 through Technology Insertion 14 for the U.S. submarine fleet and for foreign military sales.  A-RCI is a sonar system that integrates and improves towed array, hull array, sphere array, and other ship sensor processing, through rapid insertion of commercial off the shelf-based hardware and software.  This contract includes options which, if exercised, would bring the cumulative value of this contract to $2, 111, 666, 367.  Work will be performed in Manassas, Va. (95 percent), and Clearwater, Fla. (5 percent), and is expected to be completed by October 2018.  Contract funds in the amount of $2, 024, 032 will expire at the end of the current fiscal year.  This contract was competitively procured via the Federal Business Opportunities website, with one offer received.  The Naval Sea Systems Command, Washington, D.C., is the contracting activity (N00024-11-C-6294).”

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