Lockheed Martin secures $59 million in defense contracts

Investing.com -- Lockheed Martin (NYSE: LMT) has been awarded multiple defense contracts totaling approximately $59 million for various military programs, according to recent Department of Defense announcements.

Lockheed Martin Aeronautics Corp. received a $25.9 million firm-fixed-price and time and materials contract to support F-16 Foreign Military Sales. The contract specifically covers the creation of F-16 country-specific technical orders for Ukraine under the Falcon Enterprise indefinite-delivery/indefinite-quantity contract.

Work on the F-16 project will be performed at Fort Worth, Texas, with completion expected by May 30, 2029. The contract is funded through Building Partner Capacity Ukraine Security Assistance Initiative funds authorized by Letter of Offer and Acceptance.

In a separate award, Lockheed Martin Space secured a cost-plus-fixed-fee contract modification worth up to $16.5 million for industrial base analysis and sustainment projects supporting the Conventional Prompt Strike program. This work will be distributed across multiple locations, with the largest portions in Denver, Colorado (44%), Sunnyvale, California (21%), and Courtland, Alabama (12%).

The Conventional Prompt Strike program work is scheduled for completion by September 30, 2027. The Navy will obligate $3 million in fiscal 2025 research, development, test and evaluation funds upon award.

Additionally, Sikorsky Aircraft Corp., a Lockheed Martin company, was awarded a $16.4 million contract to provide materials for building and assembling main rotor blade test articles and facilities for the VH-92A helicopter program. The contract also covers system test and evaluation support for ground and flight test requirements.

The Sikorsky work will primarily take place in Stratford, Connecticut (66.4%) and Newtown, Pennsylvania (15.2%), with completion expected in December 2027. The Navy will obligate $3.6 million in fiscal 2025 research, development, test and evaluation funds at the time of award.

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