May 10 (UPI) -- Lockheed Martin has been awarded a contract from the U.S. Navy for laser-guided training rounds.
The deal, announced Wednesday by the Department of Defense, is valued at more than $23.2 million under the terms of firm-fixed-price contract.
The contract from Naval Air Warfare Center Aircraft Division enables Lockheed Martin to provide 7,501 BDU-59F/B laser-guided training rounds, along with the refurbishment of 2,501 government furnished metal containers in support of laser guided training rounds for both the Navy and Marine Corps, according to the Defense Department.
Work on the contract will occur in multiple locations across the United States, as well as Canada, and is expected to be complete in December 2020.
The total cumulative value of the contract will be obligated to Lockheed Martin at time of award, the Pentagon said.
The obligated funds will be allocated from Navy and Marine Corps fiscal 2018 procurement ammunition funds, which will not expire at the end of the current fiscal year in September.