Lockheed and team get $17.7 million contract option for military communication system

Lockheed gets $17.7M contract option

FORT LAUDERDALE, Fla. — Lockheed Martin Corp. said Thursday it received a contract option to develop new equipment for a military communication system.

The defense contractor said its team, which also includes General Dynamics, Northrop Grumman, Raytheon and BAE Systems, will boost the number of models it developed by 60 percent. The contract option is valued at $17.7 million.

Lockheed shares dipped 21 cents to $76.72 in afternoon trading.