Lockheed Martin wins $514 million contract modification

Investing.com - Lockheed Martin (NYSE: LMT) has been awarded a $514.4 million contract modification by the U.S. Department of War for the production of Space Vehicles 23 and 24, the department announced Thursday.

The modification brings the total cumulative face value of the previously awarded contract to $4.68 billion from $4.17 billion. The original contract, identified as FA8807-18-C-0009, was modified under P00200.

Work will be performed at the company's Littleton, Colorado facility and is expected to be completed by Nov. 30, 2032. Fiscal 2026 procurement funds in the amount of $514.4 million are being obligated at time of award.

The Space Systems Command's Satellite Communications and Positioning, Navigation, and Timing Contracting Division in Los Angeles, California, is the contracting activity. Lockheed Martin is based in Littleton, Colorado.

The contract modification represents the 200th change to the original agreement awarded in 2018.

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