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Lockheed Receives $1.5B Navy Missile Flight Demo Contract Modification

Lockheed Martin (NYSE: LMT) has received a potential $1.54 billion contract modification to design, build and integrate equipment in support of flight test demonstrations of the U.S. Navy’s missile system.

The company’s space business will perform work in Colorado, California, Utah, Massachusetts, New York, Alabama, Maryland, Arizona, Louisiana, Connecticut and other locations through Feb. 25, 2024, the Department of Defense said Thursday.

The modification falls under a previously awarded contract that has a total cumulative face value of $2.82 billion.

Lockheed was awarded a potential $846 million contract modification in February 2019 to develop and integrate large diameter rocket motors and related support equipment for the Navy’s Intermediate Range Conventional Prompt Strike Weapon System flight demo and another $406 million modification in August 2019 in support of the U.S. Army’s strike weapon flight tests.

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