UPDATE 1-US approves possible Aegis arms sale to Australia

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WASHINGTON, May 5 (Reuters) - The U.S. Defense Department said on Monday it had approved the possible sale to Australia of Aegis weapons systems valued at up to $450 million.

The Defense Security Cooperation Agency, which oversees foreign arms sales, said the deal would contribute to U.S. security objectives by bolstering the air warfare capability of an important U.S. ally.

Lawmakers have 30 days to block the sale, but such actions are rare.

Main contractors would be Lockheed Martin Corp (LMT.N: Quote, Profile, Research), Raytheon Co (RTN.N: Quote, Profile, Research) and Northrop Grumman Corp (NOC.N: Quote, Profile, Research).

DSCA said the Australian government had requested a possible sale of the Aegis combat system and certain combat and communication components, including advanced radars, naval fire control systems, countermeasures and a "friend or foe" identification system.

"This will improve the Royal Australian Navy's ability to participate in coalition operations, will enhance the lethality of its air warfare destroyer platform, and will provide common logistical support with the U.S. Navy," the agency said. (Reporting by Andrea Shalal-Esa; editing by Jeffrey Benkoe and Ted Kerr) ((andrea.shalal-esa@thomsonreuters.com; +1 202 354 5807; Reuters Messaging: andrea.shalal-esa.reuters.com@reuters.net))