The Department of Defense handed out 20 new defense contracts on Monday, awarding $717.7 million in total. Surprisingly, one single firm captured 20% of the contracts on offer: Lockheed Martin .
In a series of four wins, Lockheed secured contracts worth:
- $111.5 million: for the firm's Mission Systems and Training (MST) division, in the form of a cost-plus-incentive-fee, cost-only, firm-fixed-price contract for the development, integration and production of AN/SQQ-89A(V)15 Surface Ship Undersea Warfare Systems. This system enables a surface warship to search, detect, classify, localize and track undersea contacts, and to engage and evade submarines, mine-like small objects and torpedo threats. Lockheed will perform the work under a foreign military sales contract benefiting the Japan Self-Defense Force with a May 2014 completion date.
- $29.7 million: also for MST, in the form of a sole-source, cost-plus-incentive-fee/cost-plus-award-fee contract modification for post-certification support of the Aegis Ballistic Missile Defense baselines 4.0.X, 5.0 and 5.0 capability upgrade -- a project to turn Aegis into a ballistic missile defense system. This contract extension runs through Dec. 2014.
- $8.2 million: for the firm's Missile and Fire Control division, in the form of a cost-plus-fixed-fee contract to supply Affordable Phased Array Sensor Systems to the U.S. Army. These sensors are specially designed to detect incoming missiles, helicopters, and unmanned aerial vehicles.
- $48.2 million: in a contract award shared among Lockheed Martin Services, ABM's Government Services unit, LB&B Associates, J&J Maintenance, and EMCOR Government Services. This contract to provide engineering services to the U.S. Army Corps of Engineers is actually a modification of a previously awarded firm-fixed-price, multiple-award, task-order contract, and raises the ceiling value of the initial contract.
The article Lockheed Wins Contracts for Anti-Submarine Warfare, Anti-Missile Defense originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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