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Lockheed Awards DRS $691M for Navy Submarine Tech Upgrade

DRS Laurel Technologies, a business unit of DRS Technologies Inc., has won a $691 million subcontract from Lockheed Martin (NYSE: LMT) to provide the U.S. Navy with submarine combat and sonar systems.

The five year indefinite-delivery/indefinite-quantity U.S. Navy Submarine Technology Insertion Hardware contract award calls for DRS to provide production hardware to update Navy systems, DRS said in an announcement.

The TIH program includes design, production and development of hardware for submarine technology updates on the Seawolf, SSGN, 688/688i, Virginia Class and future submarine systems.

“These new TIH production units will continue our long term relationship with Lockheed Martin and provide high quality products in support of Lockheed Martin programs around the world, ” said Patrick Marion, vice president and general manager of DRS Laurel Technologies.

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