Lockheed wins $17 million Navy contract for missile launch systems, could reach $104 million

Lockheed Martin wins $17 million Navy contract

BALTIMORE — Lockheed Martin Corp. said Wednesday it recently won a $17 million Navy contract for engineering on Navy missile launch systems, and with options it could be worth $104 million over four years.

The contract covers costs plus a fixed fee. It combines purchases for the U.S. Navy and eight allied navies.

Lockheed said the work will be done on MK 41 vertical launching systems on the U.S. Navy’s Ticonderoga-class cruisers and Arleigh Burke-class guided missile destroyers.

Work will take place in Baltimore and Ventura, Calif.

Lockheed shares rose 41 cents to $82.63 in afternoon trading.