SALINA, N.Y. — Lockheed Martin Corp.’s (NYSE: LMT) facility in suburban Syracuse was recently awarded an $11.04 million contract adjustment from the U.S. Navy related to submarine-based weapons systems. The cost-plus-incentive-fee modification to a previously awarded delivery order is for design, prototyping, and qualification testing of submarine electronic-warfare equipment, according to a June 29 contract […]
SALINA, N.Y. — Lockheed Martin Corp.’s (NYSE: LMT) facility in suburban Syracuse was recently awarded an $11.04 million contract adjustment from the U.S. Navy related to submarine-based weapons systems.
The cost-plus-incentive-fee modification to a previously awarded delivery order is for design, prototyping, and qualification testing of submarine electronic-warfare equipment, according to a June 29 contract announcement from the U.S. Department of Defense.
Work will be performed in Lockheed Martin’s Salina plant and is expected to be completed by February 2023. Fiscal 2022 ship conversion (Navy) funds totaling
$7 million (63 percent); fiscal 2022 other procurement (Navy) funds of $3.7 million (34 percent); and fiscal 2022 research, development, test, and evaluation (Navy) funds totaling nearly $341,000 (3 percent), will be obligated at 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.