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Navy Exercises $102M Option on Lockheed Aegis Combat System Support Contract

The U.S. Navy has awarded Lockheed Martin (NYSE: LMT) a $102.5 million contract modification for technical support services to the service branch’s Aegis Combat System Engineering Agent effort.

Lockheed’s rotary and mission systems business will design, develop, integrate, test and deliver computer program baseline advanced capability builds, as well as technology insertion hardware for the Aegis Combat System, the Defense Department said Tuesday.

The modification exercises an option for the company to extend support work on the next or future ACBs.

Ninety percent of work will take place in Moorestown, New Jersey, and the remaining six percent in Virginia.

The Naval Sea Systems Command obligated fiscal 2018 research, development, test and evaluation funds amounting to $4.7 million at the time of award.

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