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.