Lockheed Martin (NYSE: LMT) has secured a five-year, $176.3M contract to repair components of the primary surface and air sensor designed for the U.S. Navy's Aegis combat system.
The company will help the service branch repair 1,672 head-of-family part items for the SPY-1 radar system under the firm-fixed-priced, performance-based logistics contract, the Department of Defense said Friday.
Contract work is slated to run through August 2024 and will take place in Moorestown, N.J.
Naval Supply Systems Command awarded the contract via a sole-source acquisition process and the service branch will obligate funds upon issuance of task orders.
SPY-1 is a phased array radar that works to automatically detect over 100 targets and simultaneously conduct track, search and missile guidance missions.
Lockheed developed Aegis to help U.S. and international navies defend warships against air and surface threats.