Lockheed to Engineer Aegis Upgrade Under $1.4B MDA Contract

LockheedLogoLockheed Martin (NYSE: LMT) has won a $69, 386, 572 contract modification to acquire equipment and other materials to engineer an upgrade baseline for missile defense systems on U.S. Navy destroyers.

This sole-source, cost-plus-incentive-fee, cost-plus-award-fee contract modification increases the total contract value from $1, 340, 453, 696 to $1, 409, 840, 268, the Defense Department said Wednesday.

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The company’s mission systems and training business will define and develop the Aegis Ballistic Missile Defense 5.0 upgrade baseline for the Missile Defense Agency.

Work will occur in Moorestown, N.J. through May 31, 2014 and the MDA will incrementally fund the modification through its fiscal year 2013 research, development, test and evaluation funds.

Funds will not expire at the end of the current fiscal year and do not include foreign military sales.

Lockheed is also testing the Aegis Ballistic Missile Defense Baseline 4.0.1 Weapon System on three destroyers under a separate contract with MDA, potentially worth around $1.3 billion.

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