Jan. 8 (UPI) -- Naval Sea Systems Command has awarded Lockheed Martin a contract for the AEGIS Ballistic Missile Defense equipment in support of the USS Stout, an Arleigh Burke-class guided-missile destroyer.
The contract, announced Friday by the Department of Defense, is worth more than $10.1 million under a fixed-price-incentive modification to a previous award contract.
The modification could provide additional funds to Lockheed Martin depending on how well the company performs on the contract.
The AEGIS Ballistic Missile Defense system provides missile defense against short- to intermediate-range ballistic missiles, according to the U.S. Navy.
Work on the contract will occur in New Jersey and Florida, and is expected to be completed April 2019.
Lockheed Martin will receive $10.1 million at the time of award from fiscal year 2018 defense-wide procurement funding, according to the Pentagon. The funds will not expire at the end of the current fiscal year.