Lockheed to upgrade missile system for Australian Navy
Lockheed Martin Corp. said its Moorestown complex and its unit in Sydney, Australia, have received a contract worth $20.6 million to upgrade the Austrialian Navy's integrated X-band radar surveillance, target tracking and weapon fire control capability.
Lockheed Martin Corp. said its Moorestown complex and its unit in Sydney, Australia, have received a contract worth $20.6 million to upgrade the Austrialian Navy's integrated X-band radar surveillance, target tracking and weapon fire control capability.
This contract will update the MK92 system currently deployed on 125 ships in navies of nine countries. The Moorestown unit, which develops and supports Aegis ballistic missile defence systems and other missions, employs about 5,500 of Lockheed Martin's 13,500 employees in the Philadelphia region.
Lockheed shares were up $2.66 to $105.01 in midday trading on the New York Stock Exchange.