The Missile Defense Agency is set to award Lockheed Martin (NYSE: LMT) a five-year, $527.7 million contract to support the development of an Aegis weapon system intended to protect Guam from potential missile attacks.
Lockheed’s rotary and mission systems business will equip the agency’s planned Aegis Guam System with integrated air and missile defense features, the Department of Defense said Wednesday.
In its July solicitation notice, MDA noted the system would use the common source library software and production hardware of the existing weapon and include a new launcher interface.
The agency plans to obligate $11.4 million at the time of the sole-source award using research, development, test and evaluation funds for fiscal 2023.
Contract work will occur in Moorestown, New Jersey, through Dec. 31, 2027.