MARION, Mass., May 25, 2016 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) will provide the U.S. Navy the latest advancements in sonar systems under a contract valued at up to $425 million for guidance and control systems for the MK 48 Mod 7 torpedo, part of a five-year effort to increase the inventory of the MK 48 Mod 7 heavyweight torpedoes for the submarine fleet.

The Lockheed Martin guidance and control systems will equip the heavyweight torpedoes with increased bandwidth and streamlined targeting and tracking capabilities. These systems will increase the MK 48's effectiveness and provide advanced counter-measure capabilities.

"The latest guidance and control technologies for MK 48 torpedo are thanks in part to Lockheed Martin's $10 million investment in manufacturing efficiencies, facilities, and laboratories to ensure navies can pace the threats in littoral and deep sea environments," said Tom Jarbeau, Lockheed Martin MK 48 program director. "We are building on our five decades of experience in undersea systems and our strong record of providing complex electronic systems to our customers on schedule and on budget."

Under this new contract, Lockheed Martin will provide fully integrated guidance and control sections to increase the inventory of MK 48 torpedoes over several years. There is potential for production orders of more than 250 torpedoes over the next five years for the U.S. Navy, which are used by all classes of submarines as their anti-submarine warfare (ASW) and anti-surface warfare (ASuW) weapon.

These new guidance and control systems for new-construction MK 48 torpedoes include the same section of the Navy's existing heavyweight torpedoes that Lockheed Martin is upgrading under the MK 48 Common Broadband Advanced Sonar System (CBASS) awarded by the U.S. Navy in 2011. Lockheed Martin delivers to the U.S. Navy at least 20 Mod 7 CBASS kits per month and is on track to deliver all kits on schedule. Lockheed Martin also performs intermediate maintenance of these torpedoes for fleet training, giving the Navy a critical combat advantage.

Lockheed Martin employees in Marion, Massachusetts, will perform the work on the MK 48 torpedoes' guidance and control systems, with additional support from employees at the company's locations in Manassas, Virginia, Palm Beach, Florida, and Syracuse, New York.

Channel Technology Group (CTG) in Santa Barbara, California, is providing the acoustic array.

For additional information, visit our website: www.lockheedmartin.com/us/mst/mk-48.html.

About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 125,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

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SOURCE Lockheed Martin