Lockheed Martin secures $101M in defense contracts for various systems

Investing.com -- Lockheed Martin (NYSE: LMT) has been awarded three defense contracts totaling approximately $101 million for various military systems and support services.

The U.S. Department of War awarded Lockheed Martin Rotary and Mission Systems a $26.2 million cost-plus-incentive-fee modification to operate and maintain AEGIS development and test sites. The work will be performed at the Combat Systems Engineering Development Site, SPY-1A Test Facility, and Naval Systems Computing Center in Moorestown, New Jersey, with completion expected by January 2027.

This contract combines purchases for seven foreign governments under the Foreign Military Sales program, with Japan accounting for the largest portion at 52% ($8.8 million), followed by South Korea at 19% ($3.2 million), Canada at 13% ($2.3 million), Australia at 10% ($1.7 million), Norway at 4% ($789,754), and Germany and Spain each at less than 1% ($155,014 and $72,593 respectively).

In a separate award, Lockheed Martin Aeronautics received a $24.6 million modification to provide on-site engineering, specialized ground test software, maintenance, and troubleshooting for Electromagnetic Environmental Effects production acceptance compliance tests for F-35 fighter jets. This work will support aircraft for the Air Force, Navy, Marine Corps, and non-U.S. Department of War participants, with completion expected by June 2027.

Additionally, Lockheed Martin Missiles and Fire Control secured a $50.5 million firm-fixed-price modification for the Joint Air-to-Surface Standoff Missile and Long-Range Anti-Ship Missile Large Lot Procurement. This modification increases the total contract value to $9.6 billion from $9.5 billion. Work will be performed in Orlando, Florida, with completion expected by August 29, 2029.

The Naval Sea Systems Command, Naval Air Systems Command, and Air Force Life Cycle Management Center are the respective contracting activities for these awards.

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