Lockheed Martin Wins Navy Contract

According to the Department of Defense, “Lockheed Martin (NYSE: LMT) is being awarded a $7, 907, 803 firm-fixed-price and cost-plus-fixed-fee option exercise modification to previously awarded contract (N00024-08-C-6282) for the production and support of multi-function towed arrays for the AN/SQQ-89A(V)15 antisubmarine warfare combat systems.  The multi function towed array is the next generation passive and active sonar receiver.  It affords several enhancements to the AN/SQR-19 Tactical Towed Array System allowing greater coverage, increased capability/reliability, and reduced obsolescence.  Multi-function towed array significantly contributes to the capability of surface ships to detect, localize and prosecute undersea threats and is a critical sensor to a combat systems suite.  Work will be performed in Syracuse, N.Y. (60 percent); Baltimore, Md. (20 percent); Cleveland, Ohio (14 percent); and Phoenix, Ariz. (6 percent), and is expected to be completed by January 2013.  Contract funds will not expire at the end of the current fiscal year.  The Naval Sea Systems Command, Washington, D.C., is the contracting activity.”