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On Thursday, the Department of Defense announced that it has awarded Lockheed Martin's (NYSE: LMT ) Mission Systems and Sensors division a $43.9 million "modification" to a previously awarded fixed-price-inventive contract.
The contract in question calls on Lockheed to supply multimission signal processor equipment, ballistic missile defense equipment, and related spare parts and engineering services to outfit three guided missile destroyers -- the USS Arleigh Burke, USS Mitscher, and USS Milius, designated DDG 51, DDG 57, and DDG 69, respectively. All three destroyers are equipped with Lockheed's Aegis ballistic missile defense system and belong, generically, to the Arleigh Burke class, that vessel being the first of her line.
Work on the project is expected to be complete by June 2015.