Lockheed to Continue Navy Submarine Engineering Support Under $120M Contract Modification

Lockheed Martin (NYSE: LMT) has received a $119.7 million contract modification to help the U.S. Navy integrate visual systems and other components into submarines.

The Defense Department said Monday Lockheed’s rotary and mission systems unit will perform design, development, test, reverse engineering, technology insertion/refreshment, field engineering and system support under the Navy’s Integrated Submarine Imaging Systems program.

Work will occur in Virginia, New York, Massachusetts and Rhode Island through September 2018.

The Naval Sea Systems Command will obligate nearly $28 million at the time of award from the service branch’s fiscal 2017 other procurement; 2013, 2014, 2016, and 2017 shipbuilding and conversion; and 2017 research, development, test and evaluation funds.

Lockheed was also awarded a $126.3 million modification under its ISIS contract in August last year.

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