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Navy/USMC

Lockheed Martin Wins Mk48 Torpedo Modification Deal

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By Carlo Munoz Defense giant Lockheed Martin [LMT] has wrapped up a multimillion dollar deal to upgrade the Navy's heavy torpedo arsenal to take out shallow water targets, according to company officials. The $50 million contract awarded by Naval Sea Systems Command to Lockheed Martin this week will cover the initial and full-rate production of over 100 Common Broadband Advanced Sonar System (CBASS) replacement kits for the Mk48 torpedo. Outfitted with improved guidance and signals processing systems, as well as…

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