Lockheed Wins Potential $125M Contract to Engineer Navy Guided Missile Frigate Combat System

Lockheed Martin (NYSE: LMT) has won a potential $124.9M contract to integrate and test a combat system on guided missile frigate vessels for the U.S. Navy.

The service branch received three offers for the cost-plus-incentive-fee, cost-plus-fixed-fee, firm-fixed-price contract with an initial value of $7.1M, the Department of Defense said Monday.

Work will involve system integration engineering, test planning and post-delivery engineering services under the FFG(X) program.

The base period runs through June 2025 and will extend for an additional four years if the Navy exercises all options. The service branch will initially obligate $1M in fiscal 2019 research, development, test and evaluation funds.

Lockheed, Austal USA, Fincantieri Marinette Marine, General Dynamics (NYSE: GD) and Huntington Ingalls Industries (NYSE: HII) received separate contracts in February 2018 to design FFG(X) concepts.

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