The U.S. Navy has awarded Lockheed Martin (NYSE: LMT) a potential five-year, $233M contract to provide vertical launcher modules to the service branch and three countries to fullfill foreign military sales requirements.
Lockheed's rotary and mission systems business will also supply modernization kits and spares for Mk 41 Vertical Launching Systems through the undefinitized contract action, the Department of Defense said Thursday.
Seventy-four percent of contract purchases are for the Navy, 18 percent for Korea and the remaining 8 percent are for Finland and Germany.
Naval Sea Systems Command obligated $46.6M at the time of award from the service branch's shipbuilding and conversion and FMS funds.
Mk41 VLS is designed to launch missiles from various ship classes and offered in strike, tactical and self-defense module sizes.
