Lockheed Martin gets contract for vertical launching system

4 June 2014

The US Navy recently awarded Lockheed Martin (NYSE: LMT) a contract to provide engineering design services for the MK 41 vertical launching system that helps protect the fleet from numerous naval warfare threats.

This USD10m cost-plus-fixed-fee contract includes options, which if exercised would bring the total contract value to USD182m.

As the only system capable of launching anti-air, anti-submarine, surface-to-surface and strike missiles, the MK 41 VLS can receive orders from multiple weapon control systems to handle every warfighting mission. Lockheed Martin has been the prime contractor on the VLS for more than 32 years.

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 113,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

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