Lockheed Martin secures $41.8M in Navy contracts

Investing.com - Lockheed Martin Corp. (NYSE: LMT) received three U.S. Navy contracts totaling $41.8 million for Aegis system support and submarine electronic warfare systems, the Department of Defense announced today.

The largest award is a $17.8 million cost-plus-fixed-fee modification to contract N6339425C0005 for Aegis design agent field engineering services. Work will be performed across eight locations including San Diego, California (27%); Yokosuka, Japan (23%); and Mayport, Florida (14%), with completion expected by September 2027.

Lockheed Martin's Syracuse, New York facility secured a $14.6 million firm-fixed-price delivery order for AN/BLQ-10 spares for submarine electronic warfare systems on new construction and in-service submarines. The work is expected to be completed by February 2028.

The company's Moorestown, New Jersey division received a $9.5 million cost-plus-incentive-fee modification to contract N00024-15-C-5151 for Aegis Ship Integration and Test program support. Work will be performed in Moorestown with completion expected by September 2027.

The contracts will be funded with fiscal 2026, 2025, and 2024 Navy procurement funds. Naval Surface Warfare Center Port Hueneme Division and Naval Sea Systems Command in Washington, D.C., serve as the contracting activities.

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