Lockheed Martin (NYSE: LMT) has received a contract modification valued at $223,943,975 from the U.S. Department of War to support engineering, design, development and production of sound navigation and ranging systems. The company will deliver work under a cost-plus-incentive-fee modification that exercises options tied to a previously awarded contract (N00024-20-C-6117).
The modification consolidates purchases for the U.S. Navy and the government of Canada via the Foreign Military Sales (FMS) channel, with 97% of the modification attributable to the Navy and 3% attributable to Canada through FMS.
Work locations and allocation of effort are specified in the award. The largest share of work - 65% - is slated for Lockheed Martin facilities in Manassas, Virginia. Clearwater, Florida is scheduled to handle 32% of the effort, Syracuse, New York will account for 2%, and Marion, Florida will carry 1%.
The modification carries an expected completion date of September 2027. Contract funding details tied to fiscal 2026 were provided at the time of award: $19,814,440 in other procurement (Navy) funds (51% of the obligated fiscal 2026 funding), $18,300,000 in shipbuilding and conversion (Navy) funds (47%), and $1,000,000 in FMS (Canada) funds (3%). The announcement notes that these funds will be obligated at award and will not expire at the end of the current fiscal year.
Naval Sea Systems Command in Washington, D.C. is listed as the contracting activity. The work will be performed by Lockheed Martin Rotary and Mission Systems, which is based in Manassas, Virginia.
This amendment advances ongoing engineering and production support activities for sonar systems under the referenced contract. The exercise of options under the existing contract framework and the allocation of fiscal 2026 funds are documented components of the award.
Key details:
- The modification value is $223,943,975 and is structured as a cost-plus-incentive-fee action.
- The award splits procurement between the U.S. Navy (97%) and Canada via FMS (3%).
- Work is concentrated in Manassas, VA (65%) and Clearwater, FL (32%), with smaller shares in Syracuse, NY (2%) and Marion, FL (1%).