in ,

Lockheed Receives $174M Navy Submarine Modernization Kit Order

Lockheed Martin
Lockheed Martin

The U.S. Navy has awarded Lockheed Martin a potential $174.2 million delivery order to provide upgrade kits for installation on the service branch's submarine fleet.

The cost-plus, incentive-fee order has an initial value of nearly $47 million and falls under an indefinite-delivery/indefinite-quantity contract, the Department of Defense said Friday.

DOD noted it expects the base performance period to conclude in July 2024.

Lockheed will perform work at a company facility in Syracuse, New York, and continue services until August 2025 if the Navy exercises all options on the delivery order.

The company received a separate contract worth potentially $2.22 billion in August last year to provide engineering design development services for Navy submarines and foreign military sales customers.

ExecutiveBiz Logo

Sign Up Now! ExecutiveBiz provides you with Daily Updates and News Briefings about Contract Awards

mm

Written by Mary-Louise Hoffman

is a writer of news summaries about executive-level business activity in the government contracting sector. Her reports for ExecutiveBiz are focused on trends and events that drive the GovCon industry to include commercial technologies that private companies are developing for federal government use. She contributes news content to ExecutiveBiz’s sister sites GovCon Wire and ExecutiveGov.

Cloud IT
GDIT’s Jim Matney: MilCloud 2.0 Supports SaaS Adoption With Oracle Database Platform
Haywood Talcove CEO
Haywood Talcove: LexisNexis Risk Solutions-Accuity Combination Seeks to Offer Government Anti-Fraud Platforms