Lockheed Martin (NYSE: LMT) has been awarded a potential $1.5 billion contract modification to provide the U.S. Navy with additional Trident II D5 missiles and related support services.
The contract modification also covers life extension production and development and deployed systems support work on the missiles to be carried out in various locations in the U.S., the Defense Department said Wednesday.
The Trident II D5 fleet ballistic missile is designed to be launched from nuclear-powered submarines such as Vanguard and Ohio-class submarines, and has logged at least 150 test flights since the finalization of its design in 1989.
The service branch’s Strategic Systems Programs will obligate $21.4 million from the Navy’s fiscal 2015 weapons procurement funds and $39 million from U.K. funds at the time of award.
Lockheed will perform contract work through Nov. 30, 2020, according to DoD.