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Lockheed Martin Wins Follow-On Development Work For Submarine Sonar System

DDN

Wednesday, January 19th, 2011

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By Carlo Munoz The Navy has awarded Lockheed Martin [LMT] an $83.8 million contract to continue to provide sonar systems for the sea service's submarine fleet, according to service and company statements. Under the terms of the deal, Lockheed Martin will "design and manufacture hardware" for the Acoustic Rapid Commercial-Off-the-Shelf (A-RCI) program, according to a Jan. 13 Navy contract notice. Overseen by Naval Sea Systems Command, "the contract provides funding for the development and production of the A-RCI and common…

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