Author: Joanna Crews|| Date Published: March 26, 2018
Lockheed Martin‘s (NYSE: LMT) rotary and mission systems business has secured an eight-year, $700.8 million contract to build surface ship undersea warfare systems for the U.S. Navy and Japan.
The company will develop, integrate, produce and test future advanced capability build and technical insertion baselines of AN/SQQ-89A(V)15 USW systems, the Defense Departmentsaid Friday.
AN/SQQ-89A(V)15 is designed to support search, detection, classification, localization and tracking of undersea contacts as well engagement of submarines, torpedo threats and mine-like small objects.
The contract has a $12.5 million initial value and was competitively procured through an online solicitation process with one offer received.
Work will run through March 22, 2026 and the Navy will obligate $1.2 million at the time of award.
Eighty-four percent of contract purchases are for the service branch and the remaining 16 percent are for Japan.
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Lockheed Martin‘s (NYSE: LMT) rotary and mission systems business has secured an eight-year, $700.8 million contract to build surface ship undersea warfare systems for the U.S. Navy and Japan.
