Lockheed Martin Wins Deal To Provide Aegis Support To Japan
Zacks Investment Research | Oct 18, 2016 09:09PM ET
Lockheed Martin Corp.’s (NYSE:LMT) Mission Systems and Training business unit recently secured a modification contract worth $31.1 million from the U.S. Navy. The deal requires Pentagon’s largest defense contractor to offer shipboard testing and integration services to support Japan’s Aegis modernization program.
Details of the Deal
Majority of the work related to this foreign military sales (FMS) contract will be executed in Moorestown, NJ; while the rest will be carried out in the Nagasaki, Yokohama and Maizuru cities of Japan. The deal has been awarded by the Naval Sea Systems Command, Washington, DC.
What’s Aegis?
Lockheed Martin’s Aegis Ballistic Missile Defense (ABMD) is the naval component of the U.S. Missile Defense Agency's (MDA) Ballistic Missile Defense System (BMDS). It is the world’s only maritime BMDS that can simultaneously attack land targets, submarines and surface ships, while protecting the fleet against aircraft, cruise missiles and ballistic missiles.
Over time, Aegis has evolved new capabilities to counter emerging threats and leverage new technologies. Its latest configuration, Baseline 9, offers an open architecture framework to allow extreme flexibility.
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