Lockheed Award Extends Ballistic Missile Defense Development Contract to $1.7B

lockheed martinLockheed Martin‘s (NYSE: LMT) mission systems and training business in Moorestown, N.J. has won a contract modification worth more than $295 million to help develop the Aegis ballistic missile defense baseline through “preliminary” and “critical” design review levels, the Defense Department said Monday.

The aerospace and security contractor will continue providing system engineering and program management services on the contract, which is now worth a total of $1, 734, 583, 962.

Work under the modification will support “advanced efforts” for the 5.1 variant of the baseline, according to the Pentagon’s announcement.

That work in Moorestown will go through the end of March 2015 and will initially be funded through $19, 925, 802 in research, development, test and evaluation funds from the fiscal year 2013 budget, the Pentagon said.

The Missile Defense Agency in Dahlgren, Va. is the contracting activity on the award, which the Defense Department said will not support any foreign military sales.

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