The U.S. Navy has awarded Lockheed Martin (NYSE: LMT) a potential $3.9 billion contract to provide training systems and design, develop, integrate and test simulation platforms for the F-35 Lightning II fighter aircraft. The Department of Defense said Wednesday work on the sole-source, indefinite-delivery/indefinite-quantity contract will occur in O...
Michael Drews, a more than 20-year Lockheed Martin (NYSE: LMT) veteran, has taken on the role of vice president for global situational awareness and NC3 advanced capabilities and mission strategy at the Bethesda, Maryland-based aerospace and defense contractor. He announced his new position in a LinkedIn post published Monday. In this role, Drews wi...
Lockheed Martin‘s (NYSE: LMT) rotary and missions systems business has secured a $113.6 million contract modification from the U.S. Navy for shipboard electronic warfare systems. The award exercised an option for full rate production of Surface Electronic Warfare Improvement Program, or SEWIP AN/SLQ-32(V)6 and AN/SLQ-32C(V)6 systems, the Depar...
Lockheed Martin (NYSE: LMT) has agreed to acquire satellite maker Terran Orbital (NYSE: LLAP) for approximately $450 million to expand its satellite manufacturing and responsive space capabilities. The Bethesda, Maryland-based aerospace and defense contractor said Thursday it expects the transaction to conclude in the fourth quarter of 2024, subject...
Boeing (NYSE: BA) and Lockheed Martin (NYSE: LMT) are in negotiations with Sierra Space over the possible sale of their joint venture, United Launch Alliance, in a deal that could be worth approximately $2 billion to $3 billion, Reuters reported Friday. People familiar with the matter said the discussions could end without a deal. According...
Lockheed Martin (NYSE: LMT) has secured a U.S. Navy contract modification worth $611.3 million to develop infrared and radar detection capabilities for the F-35 program. The Department of Defense said Friday the aerospace and defense manufacturer’s aeronautics business is tasked with providing Multi-Ship Infrared Search and Track Incremen...
Lockheed Martin (NYSE: LMT) has secured a potential five-year, $191 million contract from the National Geospatial-Intelligence Agency to deliver services that facilitate online, on-demand access of users to GEOINT data and products to meet mission requirements. NGA said the Strata indefinite-delivery/indefinite-quantity contract also covers access t...
Lockheed Martin’s (NYSE: LMT) Sikorsky subsidiary has secured a potential $120.2 million contract modification from the U.S. Navy to provide additional long-lead time materials needed to produce Lot 9 CH-53K King Stallion heavy-lift helicopters. The Department of Defense said Monday the additional materials will support the production of 21 CH-53K...
Lockheed Martin (NYSE: LMT) reported a 9 percent year-over-year increase in fiscal 2024 second-quarter net sales to $18.1 billion, a total backlog of $158 billion and Q2 net earnings of $1.6 billion, or $6.85 per share. The Bethesda, Maryland-based aerospace and defense contractor said Tuesday it recorded $1.9 billion in cash from operations and fre...
Lockheed Martin (NYSE: LMT) has secured a $180.5 million contract modification from the U.S. Navy for continued delivery of AN/SQQ-89A (V) 15 anti-submarine warfare systems and engineering support services. The Department of Defense said Friday Lockheed’s rotary and mission systems business will develop, integrate, manufacture and test Hypervisor ...
