The nation’s third Littoral Combat Ship, the USS Fort Worth (LCS-3), was commissioned on Saturday in Galveston Texas by the US Navy, signifying that the ship is ready for action. The ship has been designed and built by a Lockheed Martin-led team [NYSE: LMT] to operate in littoral, or close-to-shore, waterways.

The Navy has two classes of LCS ships. The Freedom class (of which the USS Fort Worth is the second) is a single-hulled variant, and the Independence class is a three-hulled version, which is being manufactured by a General Dynamics-led team [NYSE: GD]. Only one Independence class ship has been built.

At the event, Bob Stevens, Lockheed Martin Chairman and CEO said:

Today's global security challenges demand new and improved solutions, and the Littoral Combat Ship represents the innovation that is needed to respond to this dynamic environment. We are incredibly proud of the men and women on our team who helped design and build Fort Worth and honored to serve those that will rely on this ship to support U.S. security goals.