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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

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.

Lockheed Martin has previously had contracts awarded to them to procure systems for submarines such as the Virginia-class and the Seawolf-class submarines.

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.