Raytheon to Produce 3D Long-Range Radars for Air Force

U.S. Air Force image
U.S. Air Force image Raytheon (NYSE: RTN) has won a potential $71.8 million contract to engineer, manufacture and develop the U.S. Air Force‘s three-dimensional expeditionary long-range radar systems. The 3DELRR EMD contract has a $19,502,764 base value and calls for the company to deliver up to six radar platforms, as well as product support to the military branch, the Defense Department said...

Saudi Arabia Plans $2B Patriot Missile Purchase; Lockheed, Raytheon Prime Contractors

PatriotMissile
The State Department has approved Saudi Arabia’s request to purchase a Patriot Air Defense System from the U.S. government under a potential $1.75 billion foreign military sales agreement. The system consists of a set of Patriot Advanced Capability-3 missiles and associated parts and equipment, as well as personnel training and logistics and technical support, the Defense Security Cooperation...

Marillyn Hewson: Lockheed Extends Dividend Increases as Repurchase Program Continues

Marillyn Hewson
Marillyn Hewson Lockheed Martin (NYSE: LMT) will move forward on its share repurchase program after the board of directors approved to buy back an additional $2 billion of the company’s common stock. The company also said Thursday its dividend for its fiscal year 2014 fourth quarter will increase 13 percent from the previous quarter $1.50 and is payable on Dec. 26 to shareholders of record...

South Korea to Buy 40 Lockheed F-35 Jets for $7B, Acquire Jet Production Tech

F-35
South Korea will acquire 40 Lockheed Martin (NYSE: LMT) F-35A aircraft and receive fighter jet production technologies from the company under a $7.04 billion deal with the U.S. government, the Yonhap News Agency reported Wednesday. The new planes will replace the country’s old fleet of F-4 and F-5 jets and the F-35s will cost around $115.3 million per aircraft, the report said. The U.S....

Army Taps Six Vendors for $250M Automated Test Systems Support IDIQ

Contract
The U.S. Army has awarded positions on a six-year, $249.9 million contract to six companies for engineering support services to the branch’s armament research, development and engineering center. Awardees will compete for task orders to perform work under the multiple award, indefinite-delivery/indefinite-quantity, firm-fixed-price contract, the Defense Department said Tuesday. The Army Contracting...

Lockheed Receives New Navy Order for Electronic Warfare Upgrades; Joe Ottaviano Comments

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Lockheed Martin (NYSE: LMT) has won a $147 million contract to upgrade the electronic warfare systems of U.S. Navy warships such as destroyers, aircraft carriers and cruisers under Block 2 of the Surface Electronic Warfare Improvement Program. This initial production contract, wherein the Navy has ordered 14 systems for its fleet as upgrade to the AN/SLQ-32(V)2 system, is a follow-on to a 2013...

Lockheed Awarded $828M Modification on Navy Trident II Contract

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Lockheed Martin‘s (NYSE: LMT) space systems division has secured a contract modification potentially worth $828.4 million to provide the U.S. Navy with additional Trident II missiles and associated support services. The modification also covers life extension development and production and deployed systems support work to be performed in various sites, including California, Florida, Utah...

State Dept OKs Poland’s $500M Buy of Lockheed Missiles, F-16 Flight Plan Updates

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Poland has asked to buy at least 40 Lockheed Martin (NYSE: LMT) Joint Air-to-Surface Standoff Missiles and F-16 operational flight plan support services from the U.S. under a potential $500 million foreign military sale approved by the State Department. The Defense Security Cooperation Agency said Friday that the company could also supply two live and two inert AGM-158A JASSMs with test...

Rob Smith: Lockheed to Help Marine Corps Update Air Mission C2 System

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Lockheed Martin (NYSE: LMT) has won an $18 million contract to help the U.S. Marine Corps modernize an infrastructure for planning and coordinating the military’s air combat operations. The company said Thursday it will update and maintain almost 200 integrated software applications that run on the branch’s Virtualized Theater Battle Management Core System. USMC uses the platform to collaborate...

Haden Land: Lockheed’s Newly Formed Israeli Subsidiary to Focus on Security Tech Offerings

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Lockheed Martin (NYSE: LMT) has created an Israel-based business unit to offer cybersecurity tools and other enterprise information technology products to customers in that country, The Wall Street Journal reported Monday. Amir Mizroch writes that Lockheed formed the Israeli subsidiary to also pursue defense contracts as well as technology partnership and investment deals. “We’re going...