Lockheed Martin (LMT) said Monday the U.S. Navy has awarded the company an additional $147 million contract to upgrade the fleet's electronic warfare defenses against evolving threats, such as anti-ship missiles.
Under this low-rate initial production contract for Block 2 of the Navy's Surface Electronic Warfare Improvement Program, Lockheed Martin will provide 14 systems to upgrade the AN/SLQ-32(V)2 system on all U.S. aircraft carriers, cruisers, destroyers and other warships with key capabilities to determine if the electronic sensors of potential foes are tracking the ship.
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Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.