Lockheed Martin retains Aegis weapons system contract

Lockheed Martin Corp.'s Moorestown operations have apparently retained the contract for the U.S. Navy's Aegis weapons system, Bloomberg News is reporting.

The defense contractor's Mission Systems and Training unit received a contract worth up to $100 million of which more than half of the work would be done in Moorestown. Bloomberg said Lockheed Martin beat out a team of Boeing Co. and Raytheon Co. who bid to become the engineer for the system which detects and intercepts threats to surface vessels.

Lockheed has been the contractor behind Aegis for more than 40 years.

Here's a link to the Defense Department's daily contract listings that describes the Aegis award.

Also, a link to Bloomberg's report.