LMT - Lockheed Martin secures $260.8M Navy contract modification

• Lockheed Martin ( NYSE: LMT ) was awarded a $260.8M cost-plus-incentive-fee and cost-plus-fixed-fee unpriced letter contract modification to a previously awarded unpriced letter contract to provide program management, engineering development, systems integration, long lead material, and special tooling and equipment in support of missile production.
• Work is expected to be completed on November 9, 2026 once the contract is definitized.
• FY22 research, development, test, and evaluation funds in the amount of $5M; FY23 research, development, test, and evaluation funds in the amount of $5M and FY23 research, development, test, and evaluation funds in the amount of $13.54M will be obligated on this award.
• FY22 funds in the amount of $5M will expire at the end of the current fiscal year.
• The contract is being awarded to the contractor on a sole source basis under 10 U.S. Code 2304 and was previously synopsized on the System for Award Management online portal.
• Strategic Systems Programs, Washington, D.C., is the contracting activity.

For further details see: