Lockheed Martin awarded $193.79M Navy contract modification

Lockheed Martin was awarded a $193.79M cost-plus-incentive-fee contract modification to a previously awarded contract for the design, development, build, and integration of equipment for missile flight test demonstrations and fielding. Work is expected to be completed on February 25, 2025. FY23 research, development, test, and evaluation funds in the amount of $17M and FY24 research, development, test, and evaluation funds in the amount of $15M, will be obligated on this award with $17M expiring at the end of the current fiscal year. This contract is being awarded to the contractor on a sole source basis under 10 U.S. code 3204(a)(1) and was previously synopsized on the System for Award Management online portal. Strategic Systems Programs is the contracting activity.