Lockheed Martin (LMT) was awarded a $197.48M cost-plus-incentive-fee modification to a previously awarded contract to exercise options for Navy engineering design, development, and production support in support of sound navigation and ranging systems. Work is expected to be completed by September 2026. FY24 shipbuilding and conversion funds in the amount of $5.5M; FY25 research, development, test and engineering funds in the amount of $1.7M; FY25 other procurement funds in the amount of $1.12M and FY24 other procurement funds in the amount of $600,000, will be obligated at time of award and will not expire at the end of the current fiscal year. The Naval Sea Systems Command is the contracting activity.
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