A subsidiary of Lockheed MartinÂ (NYSE: LMT) has won a potential $424.7 million contract to buildÂ guidance and control systemsÂ for the U.S. Navyâs heavyweight torpedoes.
SippicanÂ will also provideÂ MK 48 Mod 7Â Common Broadband Advanced Sonar System upgrade tools, test equipment, spares and production materials, hardware engineering an repair support servicesÂ under the contract, the Defense Department said Tuesday.
Work will occurÂ in Massachusetts and in California through December 2019 and the Navy obligated $68.9 million from its fiscal 2016 weapons procurement and spares fundingÂ at the time of award.
The MK 48 topedo is designedÂ to perform active and passive homing functions and counter low-Doppler shallow submarines, fast deep-diving submarines and surface vessels.
Marion, Massachusetts-based Sippican manufactures countermeasure systems, sea-air systems and underwater vehicles.