Lockheed Martin awarded $478.36M Navy contract

Lockheed Martin (LMT) was awarded a $478.36M cost only, cost-plus-incentive-fee, firm-fixed-price, and fixed-price incentive, indefinite-delivery/indefinite-quantity contract for engineering and technical support and production of the Integrated Submarine Imaging System for new-construction and in-service submarines. This contract includes options which, if exercised, would bring the cumulative value of this contract to $1.19B. Work will be performed in Manassas, Virginia, and is expected to be completed by March 2036. Fiscal 2025 other procurement funds in the amount of $600,000 will be obligated to satisfy the minimum guarantee and begin engineering efforts under delivery order N00024-26-F-6241, and the funds will not expire at the end of the current fiscal year. The requirement was competitively procured through full and open competition with one offeror received in response to this solicitation. Naval Sea Systems Command is the contracting activity.