Lockheed Martin (NYSE: LMT) has won a $121, 420, 517 contract modification to continue producing a commercial sonar system for U.S. Navy submarines and for foreign military sales.
The Defense Department said this award exercises fiscal year 2013 options for the Acoustic Rapid Commercial-Off-The-Shelf Insertion program.
Lockheed will insert commercial hardware and software into sonar systems for integrating towed array, hull array, sphere array and other ship sensor processing.
Sixty percent of the work will occur in Manassas, Va. and the rest in Clearwater, Fla. through December 2013.
The Navy is obligating $4, 555, 520 at the time of award and no funds will expire at the end of the current fiscal year.
The Naval Sea Systems Command in Washington is the contracting activity.