Lockheed Martin : Receives Additional Electronic Warfare Contract to Protect the Navy’s Fleet
July 23, 2015 at 07:30 pm IST
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SYRACUSE, N.Y., July 23, 2015 - The U.S. Navy awarded Lockheed Martin (NYSE: LMT) a $154 million contract to upgrade the fleet's electronic warfare defenses against evolving threats, such as anti-ship missiles.
Under this low-rate initial production contract for Block 2 of the Navy's Surface Electronic Warfare Improvement Program (SEWIP), Lockheed Martin will provide additional systems to upgrade the AN/SLQ-32 systems on U.S. aircraft carriers, cruisers, destroyers and other warships with key capabilities to determine if the electronic sensors of potential foes are tracking the ship.
"We're proud to continue supporting the U.S. Navy with capabilities delivered on schedule to rapidly introduce new technology to the sailors," said Joe Ottaviano, Electronic Warfare program director for Lockheed Martin Mission Systems and Training. "Our fleets are facing a rapidly changing threat environment in theaters across the globe. This contract allows us to continue providing much needed technological advances that will help outpace our adversaries and protect our warfighters."
Block 2 is the latest in an evolutionary succession of improvement "blocks" the Navy is pursuing for its shipboard electronic warfare system, which will incrementally add new defensive technologies and functional capabilities. In 2013 and 2014, Lockheed Martin was awarded 24 systems as part of low-rate initial production, the first 10 of which have been delivered to the Navy on schedule.
Work on the SEWIP program will be performed at the company's Syracuse, New York, facility.
About Lockheed Martin Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 112,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's net sales for 2014 were $45.6 billion.
Lockheed Martin Corporation specializes in the design, manufacturing and marketing of aeronautic, submarine, and aerospace systems. Net sales break down by activity as follows:
- sale of aeronautic systems (40.7%): military and civilian aircraft, primarily for government organizations;
- sale of helicopters, mission and electronic systems (24%): military and commercial helicopters, ships, sea and land-based missile defense systems, radars, sensors, sea and air-based mission and combat systems, training systems, cyber solutions, command, control and communication systems, surveillance and reconnaissance systems, simulation and training systems, etc.;
- sales of aerospace systems (18.7%): satellite systems, missile systems and space transport systems;
- sale of air defense and fire control systems (16.6%): air and missile defense systems, tactical missiles, precision strike weapons systems, fire control systems, etc. The group also offers support services for mission operations, preparation, technical support, integration services, etc.
Net sales break down by source of income into sales of products (83.3%) and services (16.7%).
Net sales are distributed geographically as follows: the United States (74.3%), Europe (9.5%), Asia/Pacific (8.3%), Middle East (5.8%) and other (2.1%).