{
  "id": 3822090,
  "title": "Lockheed Martin wins $49M Navy contract for Target Sight System",
  "url": "https://urgent.news/2026/08/27/lockheed-martin-wins-49m-navy-contract-for-target-sight-system",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-27T21:25:32.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/stock-market-news/lockheed-martin-wins-49m-navy-contract-for-target-sight-system-93CH-4880257"
  },
  "original_language": "en",
  "account": "Lockheed Martin Corp. has secured a substantial $48,965,977 contract from the U.S. Department of War for support services related to the Target Sight System. The Department announced this award on Thursday, specifying that the contract - a cost-plus-fixed-fee and cost-only indefinite-delivery/indefinite-quantity arrangement - will be fulfilled at Lockheed Martin's facility in Orlando, Florida. The contract is projected to conclude by August 2031. The Navy allocated $3,500,000 in Fiscal 2026 aircraft procurement funds at the time of the award, with these funds not expiring by the end of the fiscal year. The Naval Surface Warfare Center in Crane, Indiana, serves as the contracting activity for this contract, which did not undergo a competitive bidding process on the System for Award Management website. Instead, it was awarded as a sole-source contract under 10 U.S. Code 3204(a)(1), a provision that allows procurement when only one responsible source exists and no alternative supplies or services would fulfill the agency's requirements. This report is AI-generated and reviewed by an editor for accuracy.",
  "summary": null,
  "key_points": [
    "Lockheed Martin secures $48.97M contract for Target Sight System support",
    "Contract awarded to Orlando facility, ends by August 2031",
    "$3.5M allocated from Fiscal 2026 aircraft procurement funds"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}