Lockheed Martin Wins $33 Million Navy Contract

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January 14, 2010 (FinancialWire) -- The U.S. Navy has awarded Lockheed Martin (NYSE: LMT) a $33 million cost-plus-incentive-fee contract for the technology demonstration phase of the Joint and Allied Threat Awareness System.

The JATAS program is meant to provide the next generation threat warning system to protect U.S. Navy and Marine Corps assault aircraft for increased survivability in hostile environments.

Under the Technology Demonstration contract, Lockheed Martin will partner with others to design, develop and demonstrate JATAS prototypes during a 16-month period of performance ending January 2011.

JATAS will provide rotary-wing assault aircraft with an integrated infrared-based missile warning, laser warning and hostile fire indication defensive suite.

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