Lockheed Martin wins more than $10M Navy contract modification

SALINA, N.Y. — Lockheed Martin Corp.’s (NYSE: LMT) plant in the town of Salina has won a more than $10.2 million modification to a previously awarded contract from the U.S. Navy.

The cost-plus-incentive-fee modification to a previously awarded delivery order under an indefinite-delivery/indefinite-quantity contract is for the design, prototyping, and qualification testing of submarine electronic-warfare equipment.

Work will be performed in Salina and is expected to be completed by February 2023. Fiscal 2023 research, development, test and evaluation (Navy) funds totaling $10,258,510 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.