Lockheed Martin and Northrop Grumman Ingalls Shipbuilding announced the creation of a joint venture partnership under which the two major corporations will submit a proposed "best value" solution for the U.S. Coast Guard's Deepwater Program. This newly formed joint venture - Integrated Coast Guard Systems - formalizes a partnership underway for more than three years. The team is hosting its Functional Design Review (FDR) for the Coast Guard this week at Lockheed Martin's facility in Moorestown. The U.S. Coast Guard's Deepwater Program was established to recapitalize the organization's ships, aircraft and system platforms to support deepwater missions. The missions include Maritime Law Enforcement, Maritime Safety, National Defense and Marine Environmental Protection.