Lockheed Martin Wins $758M Contract to Update Naval Submarine Technology

Lockheed Martin (NYSE: LMT) has won a U.S. Navy indefinite-delivery/indefinite-quantity contract with a ceiling value of $758 million to provide submarine combat and sonar systems designed around commercially available hardware and software.

Subcontractors DRS Technologies and Progeny Systems will play key roles in the hardware production.

Lockheed will design,  develop and produce hardware for the next two submarine technology insertions. The insertions are planned for Seawolf, SSGN, 688/688i,  Virginia Class and future submarine systems and platforms.

The U.S. Navy will provide the Royal Australian Navy with similar technology insertions for the Collins Class submarines through the Foreign Military Sales program.

“Our expertise in taking commercial components and electronics, such as switches, servers and displays, and packaging them to work in the harsh military environment that used to require custom hardware has saved the Navy more than $1.5 billion, and we are using these same processes to maximize continued cost savings to the Navy, ” said John Nikolai, Lockheed Martin director for communications and workstations.

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