Lockheed Martin Rotary and Mission Systems has been awarded a $17.2m contract modification to support system production and associated components for new construction and in-service class submarines.
The contract will be executed in various locations, with most of the work in Manassas, Virginia, US.
The global submarine market is currently valued at $30bn, which is expected to grow at a compound annual growth rate (CAGR) of 4.3% to reach $45bn by 2033 according to the leading intelligence company GlobalData.
Based in Washington, DC, the Naval Sea Systems Command is the contracting activity overseeing the project. The work is expected to be completed by July 2027.
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Lockheed Martin is a global security and aerospace company specialising in advanced technologies and system integration, primarily for the defence sector. Its Rotary and Mission Systems division provides advanced defence technologies and solutions for military customers worldwide.
The contract modification supports the continued production and maintenance of systems for submarines. Lockheed Martin will be responsible for delivering all associated components to ensure the successful operation of these systems.
The awarded contract modification is a sign of confidence in Lockheed Martin’s abilities and expertise in delivering advanced technologies and systems that meet the needs of the Navy and other defence customers.
Lockheed Martin has a long history of submarine systems upgrades and sustainment. For almost 50 years, the US Navy’s submarine programme has regularly chosen the company to provide technological advancements with contracts by bringing integrated solutions to complex systems, including navigation, sonar, and communications.