Contract Overview
Lockheed Martin (NYSE:LMT) was awarded a $223,943,975 cost‑plus‑incentive‑fee contract modification by the U.S. Department of War for engineering design, development, and production support of sound navigation and ranging (sonar) systems. The modification exercises options under the previously awarded contract N00024‑20‑C‑6117.
Funding and Allocation
The contract combines purchases for the U.S. Navy (97%) and the Government of Canada (3%) through the Foreign Military Sales (FMS) program. At the time of award, fiscal 2026 other procurement (Navy) funds of $19,814,440 (51% of the total) and fiscal 2026 shipbuilding and conversion (Navy) funds of $18,300,000 (47%) will be obligated, together with $1,000,000 (3%) from Canadian FMS. All obligated funds are non‑expiring at the end of the current fiscal year.
Work Scope and Locations
Work will be performed across four sites: Manassas, Virginia (65% of effort), Clearwater, Florida (32%), Syracuse, New York (2%), and Marion, Florida (1%). The contract stipulates completion of all work by September 2027.
Contracting Authority
Naval Sea Systems Command, located in Washington, D.C., is the contracting activity overseeing the award. Lockheed Martin Rotary and Mission Systems, the business unit executing the work, is based in Manassas, Virginia.
Publication Note
The article was generated with AI assistance and reviewed by an editor, as indicated by the source disclaimer.