Ken Possenriede: Lockheed Estimates Hypersonic Tech Production Efforts Could Reach $5B

Jeff Brody
Ken Possenriede

Ken Possenriede, chief financial officer of Lockheed Martin (NYSE: LMT), has said the company forecasts $5B worth of programs within the next couple years to produce hypersonic technology platforms, Inside Defense reported Thursday.

He noted at a Credit Suisse conference that Lockheed is conducting development and prototyping efforts under the U.S. Air Force's Hypersonic Conventional Strike Weapon program and the Defense Advanced Research Projects Agency's Tactical Boost Glide program.

The company received a $147M contract from DARPA in September 2016 and a $928M contract from USAF in September 2018.

Possenriede added he thinks multiple hypersonic technology programs will merge and enter the production phase.

Check Also


Vigor Industrial Subsidiary to Modernize Navy Destroyer Ship Under Potential $156M Contract

Vigor Industrial's marine subsidiary has secured a potential $155.6M firm-fixed-price contract to help the U.S. Navy modernize and maintain the USS McCampbell guided missile destroyer. The company will update the ship's mechanical and electrical systems, hull and communications, digital video surveillance and warfighting equipment as part of a depot maintenance availability, the Department of Defense said Monday.


Parsons Gets $178M Intell Community Security Analysis IDIQ; Robert Miller Quoted

Parsons (NYSE: PSN) has secured a potential five-year, $178M contract to help the U.S. intelligence community analyze measures for securing physical and technical assets.