A business unit ofÂ Lockheed Martin (NYSE: LMT) has been awarded a $540.8 million contract modification toÂ produceÂ Trident II D5Â fleet ballistic missiles for the U.S. Navy.
The Defense Department said Tuesday that Lockheed’s space systems business will also support deployed Trident II missile systems under the modification.
DoD added it will allocateÂ $454 million in fiscal year 2017 weapons procurement funds from the Navy; $50.7 million from the U.K.; and another $36.1 million from the Navy’sÂ FY 2017 operations and maintenance funds to cover the full obligated amount.
According to Lockheed, theÂ Trident II missile isÂ designed to be launched from submarines and a follow-on toÂ the Polaris, Poseidon, and Trident I C4Â missiles.
The U.S. and U.K. navies respectivelyÂ use Trident II aboard Ohio-class and Vanguard-class submarines.
Lockheed’s space systems unit is scheduled toÂ completeÂ work under the modification Sept. 30, 2021.