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Lockheed Receives $397M in Navy Trident II Missile Contract Options

A business segment of Lockheed Martin (NYSE: LMT) has received contract options worth $396.73 million from the U.S. Navy to produce submarine-launched ballistic missiles.

The exercised options under a previously awarded contract are for Trident II D5 production and deployed systems support services, the Department of Defense said Tuesday.

The Navy’s Strategic Systems Programs office will use weapon procurement funds for fiscal years 2021 and 2022 to finance the fixed-price-incentive modification and expects work to be complete by Sept. 30, 2026.

U.S. and U.K. navies deployed the Trident II D5 weapon system aboard the Ohio-class and Vanguard-class submarines, respectively, according to Lockheed.

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