India, Feb. 3 -- Lockheed Martin Rotary and Mission Systems, based in Syracuse, New York, has secured a $551.01 million contract from the U.S. Navy. This contract, which includes cost-plus-incentive-fee, fixed-price incentive, and firm-fixed-price terms, is for engineering and technical support, as well as the production of AN/BLQ-10 electronic warfare systems for both new-construction and in-service submarines. The contract is indefinite-delivery/indefinite-quantity in nature, the U.S. department of defense said in a statement.
The contract includes options which, if exercised, would bring the cumulative value of this contract to $1.37 billion. Work will be performed in Syracuse, New York, and is expected to be completed by January 2030....