Lockheed Martin wins $49M Navy contract for Target Sight System

Investing.com - Lockheed Martin Corp. (NYSE: LMT) has been awarded a $48,965,977 contract by the U.S. Department of War for contractor support services, interim sustainment support, and engineering support associated with the Target Sight System, the department announced Thursday.

The cost-plus-fixed-fee and cost-only indefinite-delivery/indefinite-quantity contract will see work performed in Orlando, Florida, where the company's facility is located. The contract is expected to be completed by August 2031.

Fiscal 2026 aircraft procurement Navy funds in the amount of $3,500,000 will be obligated at time of award and will not expire at the end of the fiscal year. The Naval Surface Warfare Center Crane in Crane, Indiana, is the contracting activity.

The contract was not competitively procured via the System for Award Management website. The award is a sole-source contract under 10 U.S. Code 3204(a)(1), which allows for procurement when only one responsible source exists and no other supplies or services will satisfy agency requirements.

The contract number is N0016426DLN08.

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