Lockheed Martin secures $500 million in defense contracts

Investing.com -- Lockheed Martin (NYSE: LMT) has been awarded multiple defense contracts totaling approximately $500 million for various naval and missile defense systems.

The U.S. Department of War awarded Lockheed Martin Rotary and Mission Systems a $297.5 million cost-plus-incentive-fee modification to a previously awarded contract for AEGIS combat system sustainment. The work, to be performed in Moorestown, New Jersey, includes in-service AEGIS sustainment, baseline 10 system integration, and product documentation. This project is expected to be completed by December 2026.

In a separate award, Lockheed Martin Rotary and Mission Systems received a $60.1 million cost-plus-fixed-fee and cost-only modification for engineering integration and support of the MK 41 Vertical Launching System. This contract includes options that could increase its total value to $144.7 million. The work combines purchases for the U.S. Navy (60%), Japan (20%), and Australia (20%) under the Foreign Military Sales program. Work will be performed across multiple U.S. locations and is scheduled for completion by December 2027.

Additionally, Lockheed Martin Space was awarded a $142.6 million contract modification for Terminal High Altitude Area Defense (THAAD) support for the United Arab Emirates. This modification increases the total contract value to $876.7 million and covers maintenance and sustainment support for two THAAD Batteries. The work will be performed in the UAE and various U.S. locations from January 2026 through August 2028.

Funding for these contracts comes from various Navy, Defense-wide, and Foreign Military Sales sources across multiple fiscal years.

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