A business unit of Lockheed Martin (NYSE: LMT) has been awarded a $540.8 million contract modification to produce Trident II D5 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 allocate $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’s FY 2017 operations and maintenance funds to cover the full obligated amount.
According to Lockheed, the Trident II missile is designed to be launched from submarines and a follow-on to the Polaris, Poseidon, and Trident I C4 missiles.
The U.S. and U.K. navies respectively use Trident II aboard Ohio-class and Vanguard-class submarines.
Lockheed’s space systems unit is scheduled to complete work under the modification Sept. 30, 2021.