Lockheed Wins $54M To Prepare Missile Test

LockheedLogoLockheed Martin (NYSE: LMT) has won a $54, 354, 363 U.S. Navy contract modification to continue preparing for two flight demonstrations of an anti-ship missile.

The company will conduct demonstrations under a program jointly run by the Defense Advanced Research Projects Agency and the Office of Naval Research, the Defense Department said Wednesday.

Earlier this month, the Pentagon announced that DARPA added an additional test to the Long Range Anti-Ship Missile program under a $71 million award.

The LRASM program is intended to develop and demonstrate anti-ship strike weapon technologies, according to the Pentagon.

Eighty-four percent of work under the new contract will occur in Orlando with the rest in Baltimore and Walled Lake, Mich. through Dec. 31, 2014.

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