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Lockheed Martin and U.S. Navy Sign $173 Million Aegis Production Contract; First Three Weapon Systems to be Built This Year
PRNewswire-FirstCall
MOORESTOWN, N.J.

Lockheed Martin officials today signed a $173 million contract award to manufacture three Aegis Weapon Systems for the U.S. Navy. The order for systems that will be installed aboard Arleigh Burke-class destroyers is the first installment of a 17-ship, four-year contract effort with a total value of $1.1 billion, if all options are exercised. New Jersey Congressman Jim Saxton, senior U.S. Navy officials and nearly 150 employees attended the signing ceremony.

"This award recognizes the critical role of the Aegis Weapon System in our nation's defense," said Fred Moosally, president of Lockheed Martin's Naval Electronics & Surveillance Systems (NE&SS)-Surface Systems. "Our nation's Aegis fleet -- already 65 ships strong, with 25 additional ships approved by Congress -- is the world's premier naval defense system. The Lockheed Martin team is committed to providing our armed forces the tools they need to meet evolving threats. This latest Aegis system increases that advantage."

The Aegis Weapon System includes SPY-1, the Navy's most advanced computer- controlled radar system that, when paired with the state-of-the-art MK 41 Vertical Launch System, is capable of delivering missiles for every mission and threat environment in naval warfare. The system can simultaneously attack multiple incoming aircraft, missiles, submarines, torpedoes and attacking ships while automatically implementing defenses to protect the fleet. Aegis is capable of countering all existing and emerging threats to a naval battle group, as well as striking inland targets.

Now, sea-based missile defense capability is being built on Aegis technology. In January of this year, Aegis successfully guided a missile intercept of an exoatmospheric target missile off the coast of Hawaii. The U.S. Navy and the Missile Defense Agency can use this sea-based capability once a determination is made on future missile defense requirements.

SPY-1 is available worldwide in various configurations, providing the U.S. and allied nations with the world's most advanced naval, surveillance, and anti-air warfare defense capabilities. The Aegis Weapon System is currently deployed on 65 Aegis-class ships on station around the world, and 25 more have been approved by Congress. Since its introduction to the U.S. Navy more than 20 years ago, Aegis has been approved for sale to Spain, Norway and Japan.

Production of the Aegis Weapon System, which provides critical defensive capabilities to destroyers, cruisers and frigates worldwide, will be done in Moorestown, NJ. Work is expected to continue through 2005. Lockheed Martin is the Navy's Combat Systems Engineering Agent and the developer of the Aegis Weapon System.

Lockheed Martin NE&SS provides surface ship and submarine weapon systems, antisubmarine warfare and ocean surveillance systems, missile launching systems, radar and sensor systems, ship systems integration services and other advanced systems and services to customers worldwide. NE&SS is a unit of Lockheed Martin Corporation headquartered in Bethesda, MD. The corporation's principal business areas are aeronautics, space, systems integration and technology services.

For additional information on Lockheed Martin Corporation, visit:

http://www.lockheedmartin.com/

For information on Lockheed Martin Naval Electronics & Surveillance Systems

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SOURCE: Lockheed Martin Naval Electronics & Surveillance Systems

Contact: Andrea Lawrence, +1-856-722-4922, or mobile +1-609-304-3890, or
andrea.j.Lawrence@lmco.com, or Kathleen Baier, +1-856-722-3006, or
kathleen.m.baier@lmco.com, both of Lockheed Martin