Lockheed Martin awarded $9.6 million Navy contract for combat systems

Investing.com -- Lockheed Martin Corp. (NYSE: LMT) has been awarded a $9.58 million contract modification for combat system integration and testing on littoral combat ships and unmanned surface vessels.

The U.S. Department of War announced the cost-plus-incentive-fee and cost-only modification to a previously awarded contract on Thursday. The work will be performed by Lockheed's Rotary and Mission Systems division based in Moorestown, New Jersey.

The project will be carried out across multiple locations, with 45% of the work taking place in Seattle, Washington and 32% in Moorestown, New Jersey. Additional work will be distributed across San Diego, California (7%), Camden, New Jersey (6%), Pascagoula, Mississippi (4%), Jacksonville, Florida (3%), Washington, D.C. (1%), Virginia Beach, Virginia (1%), and Marinette, Wisconsin (1%).

The Navy expects the work to be completed by February 2027. Funding for the contract comes from fiscal 2026 other procurement Navy funds totaling $1.5 million (88%) and fiscal 2025 other procurement Navy funds amounting to $195,057 (12%). The funds will not expire at the end of the current fiscal year.

Naval Sea Systems Command in Washington, D.C., is serving as the contracting activity for this project, which falls under the original contract N00024-21-C-5105.

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