Lockheed Martin gets U.S. Navy contract worth up to $2 billion

[February 18, 2023]  (Reuters) - The U.S. Navy has awarded Lockheed Martin Corp a contract worth up to $2 billion related to hypersonic weapon systems, the defense firm said on Friday, amid a global uptick in demand for arms and ammunitions. 

Lockheed Martin's logo is seen during Japan Aerospace 2016 air show in Tokyo, Japan, October 12, 2016. REUTERS/Kim Kyung-Hoon

Under the contract, Lockheed will integrate the Conventional Prompt Strike (CPS) weapon system on to the navy's ZUMWALT-class destroyer stealth ships.

The defense contractor will also provide launcher systems, weapon control, integrated missile components, and platform integration support for the naval platform.

The contract comes as the United States and its global rivals have been developing several hypersonic weapons, which travel in the upper atmosphere at more than five times the speed of sound.

(Reporting by Nathan Gomes in Bengaluru; Editing by Shailesh Kuber)

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