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Lockheed Wins $31M Navy Modification for Guided Missile Destroyer Systems and Signal Processor

The U.S. Navy has awarded Lockheed Martin, Mission Systems and Sensors (NYSE: LMT), Moorestown, N.J., a $31, 235, 835 modification to a previously-awarded contract.

The modification increases total obligated funding to $329, 801, 274 and possible funding to $332, 449, 028. Contract funds will not expire at the end of the current fiscal year.

Lockheed will provide a DDG 115 Aegis weapons system including a multimission signal processor. The company will also provide a secure voice system and digital video distribution system for DDG 114 and 115.

Eighty-seven percent of the work will be performed in Moorestown, N.J., with the rest being completed in Clearwater, Fla. Work is expected to be completed by April 2014. The Naval Sea Systems Command, Washington, D.C., is the contracting activity.

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