Lockheed Martin is to continue producing its MK 41 vertical launch systems for missiles fired from U.S. Navy warships.

The contract from the Navy is worth $235 million. If all contract options are exercised, however, the value would rise to $356 million.

"We are proud to continue building these launchers and bring this significant capability to the U.S. Navy for its critical missions as we have for 32 years," said Joe North, vice president of Littoral Ships and Systems at Lockheed Martin. "The fact that the VLS can launch any type of missile from any cell brings unparalleled flexibility in addressing threats from land, air and sea."

Lockheed Martin's MK 41 VLS was first produced in 1984. It is used primarily on cruisers and destroyers. A dozen U.S. allies also use the VLS on nearly 200 ships, the company said.

"The launching system is the only one in use that can simultaneously accommodate the weapon control system and the missiles of every warfighting mission area -- anti-aircraft, anti-surface, antisubmarine and land attack. The system is designed to accept any missile into any cell," according to Lockheed Martin.