The services will include the design, development, integration, test and lifecycle support.
"This program award validates Lockheed Martin as the Navy's choice for combat management systems," said Dale P. Bennett, executive vice president of Lockheed Martin's Mission Systems and Training.
"Our team met the Navy's challenge to reduce costs and drive innovation into Aegis CSEA by increasing productivity, utilizing automated testing and analysis and increasing the role of small businesses."
Lockheed Martin is the Aegis combat system engineering agent for the Navy, enhancing the system's capability to counter evolving threats.
The Aegis combat system is designed to defend against missiles and aircraft. The navies of Australia, Japan, Norway, South Korea and Spain are equipped with the system.
Lockheed said its Aegis combat system engineering agent work will be conducted at Moorestown, N.J.