GAO reporting traces the MK 50 from a 1974 operational requirement through advanced development, full-scale development, and limited production. Honeywell led full-scale development, while the Navy planned competitive production using a leader/follower approach with Westinghouse.
The program was restructured after early operational testing identified performance problems, and later GAO acquisition reporting noted that all 1,073 torpedoes were procured in low-rate initial production after the total buy was reduced.
Sources: GAO Defense Acquisition Programs MK-50 Status; GAO MK-50 Propulsion System Procurement; GAO Weapons Acquisition MK-50 LRIP.