BETHESDA, Md., Feb. 5, 2014 /PRNewswire/ -- Boston-based small business, Mide, has landed a not-so-small role on the U.S. Navy's Aegis Weapon System thanks to its innovative sensor technology developed alongside Lockheed Martin [NYSE: LMT] through the federally-funded Small Business Innovation Research (SBIR) program.

The SBIR program is designed in a three-phased award process. Phase I supports exploration of an idea or technology; phase II develops and evaluates its commercial potential; and phase III facilitates product commercialization.

"We have hundreds of research projects underway through the government's SBIR program, but just like in the commercial world, not every great idea makes it to market," said Dr. Ray O. Johnson, Lockheed Martin senior vice president and chief technology officer. "In the last ten years, we have been able to transition about a dozen projects to the commercialization phase, making this a major accomplishment not only for our partnership with Mide, but for the benefit of our customers."

Mide's innovative technology, known as novel piezoelectric sensors, measures changes in pressure, acceleration, strain, or force by converting them to an electrical charge. The sensors deliver a unique capability on tactical equipment not currently available with other sensing techniques.

"Lockheed Martin's commitment to supporting the development of this critical technology has been integral in getting the program to commercialization status," said Chris Ludlow, Mide's director of engineering.

"This particular technology integration illustrates how Lockheed Martin is effectively leveraging innovative, third-party concepts and developing them into capabilities that affordably meet the needs of the warfighter," said Jeff MacBride, small business program manager at Lockheed Martin's Mission Systems and Training business.

Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs approximately 115,000 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 2013 were $45.4 billion.

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SOURCE Lockheed Martin