Navy Awards Lockheed $214M IDIQ for Multinational Ship Combat System Engineering Services

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The U.S. Navy has awarded Lockheed Martin (NYSE: LMT) a $214.5 million contract to conduct initial engineering efforts for international partner vessels equipped with the Aegis combat system.

Lockheed’s rotary and mission systems business will help foreign military sales customers assess ship modernization plans and select new weapon capabilities as part of the indefinite-delivery/indefinite-quantity contract, the Department of Defense said Friday.

Canada is among the FMS clients and will obligate $28.1 million on the first task order.

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