Lockheed MartinÂ (NYSE: LMT) has won a potential $1.17 billion contract from the U.S. Navy to engineer sonar technology under the Technical Insertion 18-20 Acoustic Rapid Commercial-Off-The-Shelf Insertion program.
The Defense Department said Thursday the contract with an initial value of $130.8 million coversÂ engineering development support for A-RCI modernization requirements and includes purchases from theÂ Navy, Canada, Australia, England and Japan.
A-RCI is designed to integrate and optimize towed array, hull array, sphere array and other ship sensor processing through the insertion of COTS-based hardware and software.
Lockheed’s rotary and mission systems business will perform contract occur in Manassas, Virginia and Clearwater, Florida, through August 2018.
The Navy will obligateÂ $3 million at the time of award from its fiscal 2017 research and development; 2015 shipbuilding and conversion; and 2016 and 2017 “other” procurement funds.