Sequestration or not, the Navy is still handing out contracts, giving Lockheed Martin (LMT) a...

|About: Lockheed Martin (LMT)|By:, SA News Editor

Sequestration or not, the Navy is still handing out contracts, giving Lockheed Martin (LMT) a $697M order to build two steel monohull Littoral Combat Ships (LCS). Australia's Austel has received a $682M booking to also build a couple of LCSs. Meanwhile, Lockheed has retained its role as chief developer of the Aegis combat system for use on navy vessels, beating out Raytheon and Boeing for a contract initially valued at $101M.

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