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01:12 AM, July 21, 2017
Lockheed Martin Wins $76M For Aegis Ballistic Missile Modification Contract
Aegis combat system (Image: Lockheed Martin)

Lockheed Martin is being awarded a $76 million modification contract for fiscal 2017 Aegis modernization production requirements. 

This contract modification includes options which, if exercised, would bring the cumulative value of this contract action to $192 million.  Work is expected to be completed by December 2020, US Department of Defense said in a statement Thursday.

Lockheed Martin's AEGIS Ballistic Missile Defense (ABMD) is the naval component of the US Missile Defense Agency's (MDA) Ballistic Missile Defense System (BMDS). The computer-based command and decision element is the core of the AEGIS combat system. At the heart of the system is the AN/SPY-1, an advanced, automatic detect and track, multi-function phased-array radar.

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