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Lockheed Martin Secures $49 Million Navy Contract for Target Sight System Support
Lockheed Martin Corp. (NYSE: LMT) has been awarded a U.S. Navy contract worth $48,965,977 for long-term support services related to its Target Sight System (TSS), the Department of Defense announced Thursday.
Contract Details
The award is a cost-plus-fixed-fee and cost-only, indefinite-delivery/indefinite-quantity (IDIQ) contract. It covers a range of services including:
- Contractor support services
- Interim sustainment support
- Engineering support
The work will be performed at Lockheed Martin's facility in Orlando, Florida, and is expected to be completed by August 2031. This long-term agreement provides a sustained revenue stream for the company's sustainment and logistics operations.
AdProcurement and Funding
The contract was awarded on a sole-source basis, meaning it was not competitively procured. The justification, under U.S. Code 3204(a)(1), is that Lockheed Martin is the only responsible source capable of satisfying the agency's requirements for the proprietary system.
The Naval Surface Warfare Center in Crane, Indiana, is the contracting activity. An initial $3.5 million from fiscal 2026 Navy aircraft procurement funds will be obligated at the time of the award. According to the announcement, these funds will not expire at the end of the current fiscal year.
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