Lockheed Secures Potential $421M Navy Contract For AEGIS Engineering, Maintenance Services

Lockheed Martin‘s (NYSE: LMT) mission systems and sensors business has received a potential $421 million contract from the U.S. Navy to provide a range of services in support of the Advanced Electronic Guidance and Instrumentation System.

The Defense Department said Friday the contract covers in-service combat systems engineering, computer program maintenance, annual inspection, regular overhaul execution support, in-country support and staging.

DoD added the contract, which has a base value of $357 million, also involves foreign military sales to support the naval forces of Japan, South Korea, Norway, Australia and Spain through AEGIS implementation studies for future FMS shipbuilding programs.

Lockheed will work to replace Japan’s legacy cathode ray tube character readout devices and provide logistics depot support for Norway’s unique line replaceable units.

Work will be performed in California,  New Jersey and Washington D.C., as well as in Adelaide, Australia; Changwon and Busan, South Korea; Tokyo, Nagasaki, Maizuru, Yokosuka and Yokohama in Japan; Bergen, Norway; and Sydney, Australia, through November 2019.

The Naval Sea Systems Command will obligate $86 million at time of award from FMS funds.

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