The U.S. Navy recently awarded Lockheed Martin [NYSE: LMT] a $23.2 million firm fixed price contract modification to upgrade the MK 41 Vertical Launching System (VLS) on the Ticonderoga class guided missile cruisers.

The modification is being made to an existing contract between Lockheed Martin and the Naval Sea Systems Command. It is part of the Navy's Cruiser Modernization Program, which will update the ships' combat systems, as well as the hull, mechanical and electrical systems.

Under the contract, Lockheed Martin will provide new electronics hardware to upgrade the MK 41 VLS to Baseline VII on two of the sixteen modules on CG 47-class ships. The upgrade will extend the multi-mission launching system capability to include the Evolved Sea Sparrow Missile (ESSM) for increased ship self-defense capability. The newest Baseline VII equipment combines Commercial Off the Shelf (COTS) components with Ethernet communications and fiber optic channels, allowing commonality with the latest DDG 51-class vessels.

"The Navy's Cruiser Modernization program will extend the life of the Ticonderoga class ships and enhance their war-fighting capability," said Dan Schultz, vice president and general manager of Lockheed Martin's Littoral Ships & Systems business in Baltimore, MD. "The upgrades to the MK 41 will provide these ships with greater firepower and defensive capability to protect the Sailors on board."

Originally designed by Lockheed Martin for the Navy's Aegis-equipped guided missile cruisers, the MK 41 VLS has been continuously upgraded over the years, and is currently under the leadership of U.S. Navy Project Manager Mr. Toan Nguyen. This multi-missile, multi-mission launcher has revolutionized the way world navies think about sea-launched weapons. No other naval missile launcher is capable of launching missiles for every threat in naval warfare, including anti-air, anti-submarine, ship self-defense, land attack and ballistic missile defense. More than 11,000 MK 41 VLS missile cells have been delivered or are currently on order. MK41 VLS cells are either in service or on order by 12 navies around the world for 186 ships in 19 different ship classes.

Headquartered in Bethesda, MD, Lockheed Martin employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

For additional information, visit our web site at http://www.lockheedmartin.com/ .

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SOURCE: Lockheed Martin