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  • Thursday, April 25, 2024

US Navy Orders $71M in Lockheed Maritime Surveillance Systems


Lockheedlockheed martin Martin (NYSE: LMT) has been awarded a potential four-year, $71, 086, 405 contract to produce maritime surveillance systems for the U.S. Navy and Japan.

The Defense Department said Thursday Lockheed will build two auxiliary oceanographic surveillance twin line towed array systems, a U.S. TL-29A spare array, a towed array conversion, engineering services and provisioned items.

The contract’s base period covers two years of work for $25, 108, 877 and purchases are divided by 51 percent for Japan and 49 percent for the Navy.

Lockheed will perform work in Syracuse, New York through September 2019.

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