Hello, Guest!
  • Thursday, April 25, 2024

Lockheed Secures $192M in Navy Aegis Combat System Modernization Funds


Lockheed Martin (NYSE: LMT) has received a potential $192.3 million contract modification from the U.S. Navy for production support to the Aegis combat system modernization effort in fiscal 2017.

The Defense Department said Thursday Lockheed’s rotary and mission systems business will perform work in Moorestown, New Jersey; Clearwater, Florida; and Owego, New York through December 2020.

The Navy will obligate $76.6 million at the time of award from its fiscal 2017 defense-wide procurement; 2015, 2016 and 2017 “other” procurement; 2012 Navy shipbuilding and conversion; and foreign military sales funds.

Lockheed was awarded a $112.7 million contract modification in August 2016 to help the service branch address Aegis production requirements during fiscal 2016.

Aegis is designed to attack land targets, submarines and surface ships as well as protect ships against adversary aircraft, cruise missiles and ballistic missiles.

Video of the Day

Related Articles

McAleese & Associates: Dr. Deborah Brix Offers Update on COVID-19 Cases, Testing GovCon Expert

McAleese & Associates: Dr. Deborah Brix Offers Update on COVID-19 Cases, Testing

Jim McAleese, founder of McAleese & Associates and a 2019 Wash100 awardee, highlighted in a report some of the key takeaways from the remarks of Dr. Deborah Birx, the White House coronavirus response coordinator, at a White House press briefing Tuesday.

ICF to Continue Support for New Jersey’s Disaster Recovery Efforts Press Releases

ICF to Continue Support for New Jersey’s Disaster Recovery Efforts

TYSONS CORNER, VA, July 30, 2018 — ICF (Nasdaq: ICFI) has secured a contract extension from New Jersey’s Office of Community Affairs for housing, infrastructure and economic development services to support the state in its Superstorm Sandy recovery efforts, ExecutiveBiz reported Friday. The company said Thursday it will continue to provide a broad range of

Lockheed to Help Navy Deploy Aegis Combat Systems Under $93M Contract Modification Contract Awards

Lockheed to Help Navy Deploy Aegis Combat Systems Under $93M Contract Modification

Lockheed Martin (NYSE: LMT) has received a one-year, $93.5 million contract modification to complete the development and fielding of the Aegis Weapon System and integrated Aegis Combat System on three of the U.S. Navy‘s Arleigh Burke-class destroyers. The Defense Department said Friday the contract covers follow-on support services for USS Thomas Hudner, USS Paul Ignatius and USS Daniel Inouye.