US DOD has awarded $1 billion ballistic missile defense system contract to Lockheed Martin

Lockheed Martin Maritime Systems and Sensors is being awarded a $1,034,550,502 contract by US Department of Defense. The contract is for Lockheed Martin to serve as the Aegis Ballistic Missile Defense Combat System engineering agent and the Aegis Ballistic Missile Defense Weapon System design, development and computer program source for Aegis cruisers and destroyers. Work is to be performed in Moorestown, N.J. The period of performance is from Oct. 1, 2009 through Dec. 31, 2014. FY 09 Research, development, test and evaluation funding will be used to incrementally fund this effort for $15,207,030.