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  • Friday, November 22, 2024

Lockheed Gets $2B Navy FMS Contract Modification for Multimission Surface Combatant Ships


Jeff Brody

The U.S. Navy has awarded Lockheed Martin (NYSE: LMT) a $1.95B contract modification to design and build surface combatant vessels for Saudi Arabia.

Lockheed will also provide materials and data environment integration services for four Multi-Mission Surface Combatant ships as part of a foreign military sales agreement between the U.S. and the Kingdom of Saudi Arabia, the Department of Defense said Friday.

DoD expects work to be complete in June 2026 and noted the sale of MMSC vessels, which are based on Freedom-class Littoral Combat Ships, will support KSA’s strategic regional security missions.

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