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Lockheed Books Navy Contract Modification for Propulsion System Engineering Support

Lockheed Martin (NYSE: LMT) has secured a $45 million contract modification to deliver procurement and engineering support services to the U.S. Navy for small combatant propulsion system spares.

The Defense Department said Wednesday the action was made under a potential $168.9 million award that could extend the performance period to October 2028 if all options are exercised.

Lockheed will conduct work in King of Prussia, Pennsylvania.

The Navy will obligate $45 million from foreign military sales funding at the time of award.

Bath, Maine-based Supervisor of Shipbuilding, Conversion and Repair is the contracting activity. It made the award in September.

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