This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

U.S. Navy Awards Lockheed Martin $57 Million Contract To Upgrade Electronic Warfare Ship Defense System

SYRACUSE, N.Y., April 1, 2013 /PRNewswire/ -- The U.S. Navy awarded Lockheed Martin (NYSE: LMT) a $57 million contract to upgrade the fleet's electronic warfare defenses against anti-ship missile threats.  

Under this low-rate production contract for Block 2 of the Navy's Surface Electronic Warfare Improvement Program (SEWIP), Lockheed Martin will upgrade the AN/SLQ-32(V)2 system found on all U.S. aircraft carriers, cruisers, destroyers and other warships with key capabilities to determine if the electronic sensors of potential foes are stalking the ship.

"The SEWIP Block 2 upgrade will ensure the AN/SLQ-32 system continues to outpace the threat and establishes a framework to easily install future upgrades," said Joe Ottaviano, SEWIP program director for Lockheed Martin Mission Systems and Training. "The system is the first sensor to be fully compliant with the Navy's Product Line Architecture strategy, which facilitates the rapid introduction of new technology into the fleet. By using commercial-off-the-shelf components, we provide additional cost savings and ease of maintenance for sailors."     

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. The Navy competitively awarded Lockheed Martin a contract in 2009 to develop SEWIP Block 2 and the company recently completed successful integration and test activities for two engineering development models.

Work on the SEWIP program will be performed at the company's Syracuse, N.Y. facility, which houses a new electronic warfare system test facility.

In January 2012, Lockheed Martin teamed with Raytheon Company, the original developer of the AN/SLQ-32, to pursue the Navy's competitive SEWIP Block 3 program, which will upgrade the system's electronic attack electronic warfare capabilities.  The team demonstrated its potential Block 3 solution at last summer's multi-national Rim of the Pacific naval exercises. A formal Navy request for Block 3 proposals is anticipated later this year. 

Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs about 120,000 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 2012 were $47.2 billion.

For additional information, visit our website: http://www.lockheedmartin.com/ew

SOURCE Lockheed Martin

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs