Brian Petro announced on LinkedIn Friday that Lockheed Martin has appointed him as its new vice president of program finance for missiles and fire control. The long-time Lockheed Martin executive will direct all financial aspects for programs within the MFC business unit, including business development, execution, forecasting and reporting...
The U.S. Army has awarded Lockheed Martin’s missiles and fire control business a potential $1.73 billion contract modification to provide the service branch with the Modernized Target Acquisition Designation Sight/Pilot Night Vision Sensor system, or M-TADS/PNVS. The Department of Defense said Friday the Army Contracting Command at Redstone Ar...
Lockheed Martin has secured a $509.8 million contract modification from the U.S. Air Force for the delivery of Global Positioning System III Follow-On Space Vehicles 21 and 22. GPS III Follow-On Satellites Contract Details The Department of Defense said Wednesday the two additional GPS IIIF satellites are expected to be delivered by November 20...
Lockheed Martin has received a potential $214.4 million contract from the U.S. Army to support the recapitalization of the Multiple Launch Rocket System, or MLRS, into the M270A2 configuration. The Department of Defense said Friday the Army Rapid Capabilities and Critical Technologies Office at Redstone Arsenal in Alabama is funding the cost-plus-fi...
The National Geospatial-Intelligence Agency has awarded Lockheed Martin the potential seven-year, $615.7 million GEOINT Collection NeXT, or GCX, contract. NGA said Wednesday it awarded the GCX indefinite-delivery/indefinite-quantity contract concurrently with the initial task order. What Is the GEOINT Collection NeXT Contract? According to a presoli...
X-Bow Systems announced that Lockheed Martin made a significant investment in the company during its recently concluded Series B funding round. The non-traditional producer of advanced manufactured solid rocket motors and defense technologies said Monday that it raised over $105 million. In line with the investment, Lockheed Martin entered a s...
Lockheed Martin has received two U.S. Army contracts worth approximately $857 million combined to produce and deliver High Mobility Artillery Rocket Systems, or HIMARS, and prototype units of a missile communication technology, known as RIG-360. The Department of Defense said Friday Army Contracting Command launched an internet solicitation for both...
Lockheed Martin has agreed to acquire Amentum’s Rapid Solutions business for approximately $360 million in cash. Amentum said Wednesday the transaction is expected to conclude in the second half of 2025, subject to regulatory approvals and other customary closing conditions. Upon closing, Lockheed will integrate Rapid Solutions and about 230 e...
Lockheed Martin recorded a 4 percent year-over-year increase in fiscal 2025 first-quarter sales to $18 billion, a total backlog of $173 billion and Q1 net earnings of $1.7 billion, or $7.28 per share. In an earnings release published Tuesday, the Bethesda, Maryland-based aerospace and defense contractor said its cash from operations was $1.4 billion...
Lockheed Martin has received a $180 million contract modification from the U.S. Navy to procure parts, materials and components to support the conversion of three F-35 production aircraft to flight science replacement planes. Scope of Contract Action The Department of Defense said Monday the new flight science aircraft will help avert any rise in th...
