Posted on October 6, 2021 in Uncategorized,
Lockheed Martin Corp. landed a modification to a Space Coast-based missile contract potentially worth more than $1 billion.
Bethesda, Maryland-based Lockheed Martin’s Titusville operations won a $445 million contract modification for a previously-awarded U.S. Navy contract to produce Trident II missiles, the Department of Defense announced Oct. 1. This modification will be worth more than $1.1 billion if the Navy exercises all available options under the contract to buy more missiles.
More than one-fifth of the new work will take place on the Space Coast, with 16.6% happening in Cape Canaveral and 6.7% happening in Titusville. Work is projected to finish by Sept. 30, 2026.
The contract is an addition to the region’s thriving defense sector. Defense work supports more than 55,000 jobs combined in metro Orlando and on the Space Coast, according to Enterprise Florida.
Lockheed (NYSE: LMT) has 16 combined open jobs in Titusville and Cape Canaveral, according to the defense contractor’s website. They include engineering, cybersecurity and information technology roles.
The Space Coast is a key site for Lockheed’s missile work. Its Fleet Ballistic Missile headquarters opened in Titusville in 2019 after relocating from Sunnyvale, California. The move was a $40 million investment that created 350 local jobs, according to the Economic Development Commission of Florida’s Space Coast.