Lockheed Martin awarded $302.24M Navy contract motion

Lockheed Martin was awarded a $302.24M cost-plus-incentive-fee, firm-fixed-price, cost-plus-fixed-fee, and cost-only undefinitized contract motion for the proof of manufacture, manufacturing, spares, manufacturing help materials, and engineering help for parts associated to the MK 48 heavyweight torpedo all up spherical. This contract combines purchases for the Navy and the Royal Australian Navy. Work is predicted to be accomplished by October 2026. Royal Australian Navy funds within the quantity of $50.62M; FY21 weapons procurement funds within the quantity of $32.92M; FY22 weapons procurement funds within the quantity of $26.57M and FY23 weapons procurement funds within the quantity of $21.32M will likely be obligated at time of award, of which $32.92M will expire on the finish of the present fiscal 12 months. This contract was competitively procured through the System for Award Administration, with one supply obtained. Commander, Naval Sea Programs Command is the contracting exercise.

Revealed first on TheFly

See Insiders’ Scorching Shares on TipRanks >>

Learn Extra on LMT:

Supply hyperlink

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button