Lockheed Martin (NYSE: LMT)Â has secured a potential three-year, $147 million contract from the U.S. Navy to provide navigation subsystem engineering support related to Trident II D5 missiles for the U.S. and the U.K.
The cost-plus-fixed-fee, cost-plus-incentive-fee contract covers fleet support, program navigation operational trainerÂ upgrades, training system development, software modernization, refueling overhaul support for Ohio-class submarines and weapon training platform development, the Defense Department said Tuesday.
Lockheed will perform contract work in New York, Florida and Virginia through Sept. 30, 2018, if the Navy exercises all options.
TheÂ Trident II D5Â fleet ballistic missile is launched fromÂ nuclear-powered submarines such asÂ Ohio- and Vanguard-class submarines and has recorded at least 150 test flights since the completion of its design in 1989.
The service branch’s Strategic Systems Programs will obligate $65Â million from the Navyâs fiscal 2016 funds and $7.4 million from U.K. contract funds at the time of award, according to DoD.