Lockheed Martin awarded $315.94M Navy contract modification

Lockheed Martin was awarded a $315.94M cost-plus-incentive-fee contract modification for options under 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 February 25, 2025. FY23 research, development, test, and evaluation funds in the amount of $25M will be obligated upon award and will not expire at the end of this fiscal year. This contract modification is being awarded on a sole source basis under 10 U.S. Code 2304 and was previously synopsized on the System for Award Management online portal. Strategic Systems Programs, Washington, D.C., is the contracting activity.