Lockheed Martin (NYSE: LMT) has secured a potential five-year, $1.22B contract modification to produce Trident II D5 ballistic missiles and support deployed systems for the U.S. and U.K. navies.
The modification has a base value of $494.9M and will reach its potential maximum dollar value if all options are exercised, the Department of Defense said Monday.
Initial contract obligations will consist of $38.3M in fiscal 2019 Navy weapons procurement funds and $4.2M in U.K. government funds.
Trident II D5 missiles are deployed aboard Ohio-class and Vanguard-class underwater vessels. The three-stage weapon is designed to reach a distance of up to 4K nautical miles and carry multiple reentry bodies.