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.

You may also be interested in...

Gil Dussek CEO Gunnison Consulting Group

Gunnison Buys Federal IT Service Management Firm G2SF; Gil Dussek Quoted

Gunnison Consulting Group has acquired Global Solutions & Services Frameworks for an undisclosed sum to expand its information technology service management, mobile computing and cybersecurity capabilities in the federal government services market. “This deal aligns with our modernization strategy and we remain focused on improving critical government programs, while driving long-term innovation to meet evolving customer demands," said Gunnison CEO Gil Dussek.


Cybersecurity Firm Telos Launches IPO

Telos (Nasdaq: TLS) targeted to raise approximately $254M from the Ashburn, Virginia-based cybersecurity company's initial public offering Thursday, offering 15M shares of common stock with pricing at $17 each.