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Navy/USMC

Lockheed Martin Sweeps Navy’s Mk 41 Vertical Launch Contract Award

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Lockheed Martin Sweeps Navy’s Mk 41 Vertical Launch Contract Award
An Mk 41 VLS launches an SM-6 off the USS John Paul Jones (DDG-53). (Photo: U.S. Navy)

Lockheed Martin [LMT] won the Navy’s contract award on Friday for the production of the Mk 41 vertical launching system (VLS), defeating BAE Systems and snatching up both components of the competition, meaning the company will construct the modules and perform the electrical work. The initial contract award is valued at $235 million and could climb to $356 million if the Navy exercises all of the options. BAE Systems had been the incumbent for the construction of the modules since…

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