Lockheed Martin’s Syracuse–area plant wins $32 million Navy contract modification

SALINA — Lockheed Martin Corp.’s (NYSE: LMT) facility in suburban Syracuse recently won a $32 million modification to a previously awarded contract from the U.S. Navy for design and qualification testing of submarine electronic-warfare equipment. Work on this cost-plus incentive-fee contract adjustment will be performed in Lockheed’s Salina plant and is expected to be completed […]

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SALINA — Lockheed Martin Corp.’s (NYSE: LMT) facility in suburban Syracuse recently won a $32 million modification to a previously awarded contract from the U.S. Navy for design and qualification testing of submarine electronic-warfare equipment.

Work on this cost-plus incentive-fee contract adjustment will be performed in Lockheed’s Salina plant and is expected to be completed by February 2024, according to a March 3 contract announcement from the U.S. Department of Defense.

Fiscal 2023 research, development, test, and evaluation (Navy) funds totaling just under $19 million will be obligated at the time of award and will not expire at the end of the current fiscal year. The Naval Sea Systems Command in Washington, D.C. is the contracting authority.

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