Lockheed Martin‘s (NYSE: LMT) rotary and mission systems business has received a $302.2 million undefinitized contract action to produce, deliver and engineer Mark 48 heavyweight submarine-launched torpedoes for the U.S. and Australian navies.
Sixty-one percent of contract purchases are for the U.S. Navy and the remaining 39 percent are for Australia, the Department of Defense said Friday.
The award includes work to obtain a proof of manufacture, production support materials and spares.
The company’s RMS segment will perform work at various locations in New York, Florida and Massachusetts through October 2026.
Australia is obligating $50.6 million at the time of the award. The U.S. Navy, on the other hand, will initially source a combined total of $80.8 million from fiscal 2021, 2022 and 2023 weapons procurement funds, with $32.9 million set to expire in the current budgetary year.
A development partnership between the two countries achieved initial operational capability status for the MK 48 Mod 7 torpedo, the latest version of the underwater weapon system, in 2006.
