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  • Friday, April 19, 2024

Lockheed Lands $519M Navy FMS Contract to Develop Frigate Fire Control, Radar Processing Systems

Jeff Brody

Lockheed Martin (NYSE: LMT) has secured a potential 10-year, $519.1M foreign military sales contract from the U.S. Navy to develop a fire control loop and a solid-state S-band radar processing group for Spanish warships equipped with the Aegis combat system.

The company will also provide spare kits, tools and test equipment for five Aegis Baseline 9C.2 multimission frigates through the undefinitized cost-plus-incentive-fee, cost-plus-fixed-fee contract, the Department of Defense said Wednesday.

Naval Sea Systems Command is the contracting activity and will obligate $90.7M in FMS funds at the time of award. Contract work will take place in various U.S. locations and in Ferrol, Spain, through April 2030.

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