Feb. 7 (UPI) — Lockheed Martin was awarded a contract for technology that can rapidly upgrade the processing capability of sonar equipment on submarines.
The deal, announced Tuesday by the Department of Defense, is value at more than $33.7 million under the terms of a cost-plus-incentive-fee contract, which is a modification on a previous award.
The agreement provides the Navy with an option to acquire Technical Insertion-16 Acoustic Rapid Commercial Off-the-Shelf Insertion or A-RCI systems, including pre-cable kits, the Pentagon said.
Work will occur in Virginia and Florida, and is expected to be complete by February 2020.
More than $33.7 million will be obligated to Lockheed Martin from Navy fiscal 2018 other procurement funding, which will not expire at the end of the current fiscal year, according to the Defense Department press release.