May 16 (UPI) — Lockheed Martin has been awarded a contract for services in support of the Aegis Ballistic Missile Defense system.
The Missile Defense Agency contract was announced on Tuesday by the Defense Department and enables Lockheed Martin to provide “materials necessary to support Aegis Ballistic Missile Defense 6.0 modeling and simulation.”
The contract is valued at more than $12.8 million under the terms of a cost-plus-incentive-fee modification to a previous Pentagon award.
The modification increases the overall value of the contract to more than $2.805 billion for research and development of the Aegis system.
Work on the contract will occur in Moorestown, N.J., and is expected to be complete in September 2018.
The total amount of the contract award will be obligated to Lockheed Martin at time of award.
The obligated funds will be allocated from fiscal 2018 research, development, test, and evaluation funds, according to the Pentagon.