Lockheed Martin 450.7M contract to build warships


Lockheed Martin Corp. world’s top defense contractor landed a work agreement to build warships, requiring several of its locations to have all hands on deck.

Bethesda, Md.-based Lockheed Martin Corp. (NYSE: LMT) won a $450.7 million contract from the U.S. Navy on July 16, according to the U.S. Department of Defense. The seven-year contract involves support of the of four Multi Mission Surface Combatant ships.warship

The Multi-Mission Surface Combatant is a lethal and highly maneuverable surface warship capable of littoral and open ocean operation. This contract involves foreign military sales to Saudi Arabia.

While a small part of the work will happen in — an area where Lockheed Martin has more than 7,000 employees — 20 other locations throughout the U.S. and overseas will get a piece of the contract, as well.

Central Florida is a major player when it comes to defense contracts. The region snags about $4 billion in government contracts each year, which helps make Orlando the modeling, simulation and training capital of the world, according to the Orlando Economic Partnership.

Bethesda, Md.-based Lockheed Martin’s Gyrocam Systems LLC division in southwest Orlando won an $80 million contract with the U.S. Defense Logistics Agency on July 3. Gyrocam Systems is at 5600 Sand Lake Road — the same location as Lockheed Martin’s (NYSE: LMT) Missiles & Fire Control facility, which has more than 4,500 employees.