The deal will see the company modernise and support 21 rapid-fire, radar-guided gun systems on-board the RCN ships for increased protection against surface and aerial threats.
The contract is expected to provide employment for approximately 450 personnel in Canada.
Lockheed Martin Australia has been awarded a contract worth A$700m ($566.46m) by the Australian Department of Defence for work on the Future Submarine combat system.
The company will design, manufacture and integrate the Future Submarine combat system as part of the arrangement.
Lockheed Martin Australia has also agreed to conduct various procurement activities to select subsystem and component suppliers under the deal.
The contract is expected to result in the creation of 200 new jobs.
ESN will provide the development, modification, validation and delivery of the combat systems operational sequencing system (CSOSS) for the C4ISR and weapon solutions under the contract.
The company will also provide CSOSS analyses, technical and maintenance services for Aegis-equipped ships, as well as other US Navy and US Coast Guard vessels.
Work under the contract will be performed in Port Hueneme, California; San Diego, California and Norfolk, Virginia.