March 20 (UPI) -- Lockheed Martin has been awarded a contract for production and support of the Trident II D5, a submarine-launched ballistic missile.
The deal, announced Monday by the Department of Defense, is valued at more than $522.3 million under the terms of a fixed-price-incentive, cost-plus-incentive-fee, and cost-plus-fixed-fee contract, which is a modification to a previous award by the U.S. Navy.
The agreement cements options for the Navy to enable Lockheed Martin to produce Trident II D5 missile and provide deployed system support, the Pentagon said.
The UGM-133A Trident II, or Trident D5, is a submarine-launched ballistic missile and is currently operational on Ohio-class submarines and United Kingdom Vanguard-class submarines.
Work on the contract will occur in multiple locations and is expected to be complete in September 2022.
The total amount of the contract will be obligated to Lockheed Martin at time of award from several different naval accounts.
The Defense Department says none of the obligated funds will expire at the end of the current fiscal year.
Additionally, more than $7.7 million will be obligated to Lockheed Martin from Navy fiscal 2018 research, development, test, and evaluation funds, which will not expire at the end of the current fiscal year.