The U.S. Army has awarded Lockheed Martin (NYSE: LMT) a potential two-year, $219.7 million contract modification to supply surface-to-surface precision strike missiles to the service branch. Work on the PrSM Early Operational Capability Lot 3 requirement will occur in Grand Prairie, Texas, through March 6, 2026, the Department of Defense said Tuesda...
Lockheed Martin (NYSE: LMT) has disclosed a nonbinding proposal to acquire spacecraft manufacturer Terran Orbital (NYSE: LLAP) for more than $500 million, SpaceNews reported Friday. The defense contractor offered to pay $1 in cash for each share of Terran Orbital’s outstanding common stock, buy the company’s outstanding warrants for over...
Lockheed Martin (NYSE: LMT) has secured a potential five-year, $111.7 million delivery order under a previously awarded indefinite-delivery/indefinite-quantity contract to design and test an electronic warfare support system for the U.S. Navy’s submarines. The award has a base value of $43.4 million and covers the design and qualification test...
Lockheed Martin (NYSE: LMT) reported its fourth quarter and full year 2023 results. The full-year net sales were stronger than expected, rising two percent year-over-year to $67.6 billion, although it dipped half a percent lower in Q4 2023 to $18.9 billion versus Q4 2022. Also, the backlog reached a record $1.6 billion....
Erika Marshall, formerly a business development vice president at Lockheed Martin (NYSE: LMT), has been appointed VP of the defense contractor's command, control, communications, computers, intelligence, surveillance and reconnaissance portfolio. Marshall assumed the role after leading the C6ISR strategy and business development team for over f...
Lockheed Martin's (NYSE: LMT) rotary and mission systems business has secured a potential four-year, $462.4 million contract to operate and maintain development and test sites for the U.S. Navy's Aegis combat system. Naval Sea Systems Command awarded the contract on a sole-source basis and expects work to conclude by January 2028....
Lockheed Martin (NYSE: LMT) has received a potential $311.9 million contract modification to design, test and produce electronic warfare systems for the U.S. Navy's submarines. The award represents exercised options on an indefinite-delivery/indefinite-quantity contract awarded by the Navy in 2019....
Lockheed Martin (NYSE: LMT) has received a potential five-year, $1.15 billion contract modification from the U.S. Navy to help military customers activate F-35 sites and meet hardware requirements. The modification also covers planning and readiness reviews, contract management and production engineering support services for training device producti...
Lockheed Martin (NYSE: LMT) has appointed Amr Hussein, most recently vice president of C4ISR, as multidomain combat solutions VP and general manager of rotary mission systems sites in New Jersey and named Joe DePietro, a three-decade defense industry veteran, as VP and GM of C6ISR. Hussein and DePietro announced their appointments through LinkedIn p...
Steve Froelich has been appointed vice president for advanced concepts at the rotary and mission systems business segment of defense and aerospace company Lockheed Martin (NYSE: LMT). He previously served as Lockheed vice president and general manager for RMS Australia and New Zealand, a position that he described on LinkedIn on Tuesday as “th...
