Lockheed Martin (NYSE: LMT) has won a potential 10-year, $427, 607, 895 contract to integrate the Aegis weapon system into the U.S. Navy’s ships.The company will work to manage the design, installation, assessment and maintenance of the system throughout a vessel’s lifecycle, the Defense Department said Friday.
Lockheed will also develop design modifications, ship space arrangements, test procedures and a ballistic missile defense cable plant design for the new Arleigh Burke-class destroyers under the contract.
“When a ship goes into harm’s way, the combat system must work 100 percent of the time – there is no margin of error, †said Chris Minster, senior program manager of Lockheed Martin’s mission systems and training.
Lockheed will perform work in New Jersey, California, Virginia, Maine and Mississippi through August 2016.
