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 HudnerUSS Paul Ignatius and USS Daniel Inouye.

Lockheed was awarded a potential $426 million contract in September 2016 to build and deploy Aegis Weapon Systems and Aegis Combat Systems on the three Arleigh Burke-class destroyer ships.

Work under the modification will occur in Moorestown, New Jersey, and in Johnstown, Pennsylvania, through July 2018.

The Naval Sea Systems Command will obligate $29.2 million at the time of award from the Navy and DoD’s fiscal 2017 research, development, test and evaluation funds as well as fiscal 2012 and 2013 Navy shipbuilding and conversion and fiscal 2017 operations and maintenance funds.

Aegis is equipped with the AN/SPY-1 radar technology that works to automatically detect and track more than 100 targets as well to guide a missile to its intended target.

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