A $10 million contract has been given to Lockheed Martin by the U.S. Navy to continue supporting the readiness of MK-48 torpedoes.

The contract from Naval Sea Systems Command exercises the first option of a 2013 award, Lockheed said, and brings that award's value to more than $18 million.

"The key to this program's success is our strong partnership with the U.S. Navy," said Dr. Rob Smith, vice president of C4ISR for Lockheed Martin Information Systems & Global Solutions. "Working in unison, our teams established a diligent process that ensures reliability and helps reduce life cycle costs for the Navy's torpedo enterprise."

The MK-48 is a heavy torpedo that first made its appearance in the late 1960s for sinking nuclear-powered submarines and surface ships. It remains a Navy mainstay. Lockheed Martin has provided specialized maintenance for the weapon since 2007.

Under its award Lockheed provides infrastructure support for the intermediate maintenance activities for the torpedo, including quality assurance, training, audit support, pier-side services and ordnance handling, while the Navy provides necessary parts and equipment. Lockheed's duties include refurbishing MK-48 torpedoes used in training as well as maintenance for those for use in combat.