Lockheed, Navy Display Systems Contracts
Lockheed Martin has received a six-year contract from the U.S. Navy to provide performance-based logistics support for the AN/UYQ-70 (Q-70) Advanced Display System. The contract provides Q-70 logistics and supply support at over $13m a year for the first two years, with options for additional support over the next four years, bringing the total potential contract value to $72m.
This contract follows a recently awarded $525.6m modification to the NAVSEA AN/UYQ-70(V) Advanced Display Systems production contract.
The contract will be managed out of Lockheed Martin (LMT)'s business in Eagan, Minn., and products will be delivered from the company's Virginia Beach, Va., location. If option years are exercised, the contract will continue until 2014.
Q-70 systems are widely used in U.S. Navy at sea, on land and in the air as well as in naval systems operated by Australia, Germany, Japan, Norway and Spain. Lockheed Martin develops total ship computing infrastructure designs that encompass four key elements -- open system architectures, commercial technology, planned technology refresh and cross-platform commonality. The company is the world's largest producer of open systems, Commercial Off-The-Shelf (COTS) based computing, display, and networking equipment for military applications.
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 146,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2008 sales of $42.7b.