Lockheed to Build More Submarine-Launched Missiles Under $601M Navy Contract Modification

Lockheed Martin (NYSE: LMT) has secured a $601.3M contract modification from the U.S. Navy to produce additional submarine-launched ballistic missile systems for the service branch and the British government.

The company will manufacture Trident II D5 missiles and support deployed systems through the sole-source contract, the Department of Defense said Thursday.

The Navy will obligate $499.8M on the modification while the U.K. will allocate $93.3M on the award.

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