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.

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