Lockheed Martin secures over $12.8 billion in defense contracts

Investing.com -- Lockheed Martin (NYSE: LMT) has secured multiple defense contracts totaling more than $12.8 billion, with the largest award being a $12.5 billion modification for F-35 fighter jets.

The Department of War awarded Lockheed Martin Aeronautics a $12.5 billion contract modification for the production and delivery of 148 F-35 aircraft in Lot 19. This includes 40 F-35A aircraft for the Air Force, 12 F-35B and eight F-35C aircraft for the Marine Corps, and nine F-35C aircraft for the Navy. The contract also covers 15 aircraft for cooperative program partners and 64 aircraft for Foreign Military Sales customers.

Work on this contract will be performed across multiple locations including Fort Worth, Texas, El Segundo, California, and international sites, with completion expected by August 2028.

In addition, Lockheed Martin received a $137.2 million modification to address diminishing manufacturing sources and implement engineering changes for F-35 Lot 17 production aircraft. This work will be conducted across nine locations including Nashua, New Hampshire, Fort Worth, Texas, and Palm Bay, Florida, with completion expected by July 2026.

The company was also awarded a $101.1 million contract for advanced procurement of parts facing potential manufacturing source shortages for F-35 production and sustainment. This work will be performed in Fort Worth, Texas, with completion expected by September 2027.

Other significant awards include a $35.5 million modification for the AEGIS Combat System Engineering Agent, a $15 million order for 44 Gen 5i-Mission Computers for the H-60 Multi-Mission Helicopter program, and an $11.6 million order for redesigning the Sensor Electronics circuit card assembly for the F-35 Lightning II.

Lockheed Martin's Space Systems division received a $10.1 million contract modification to maintain the Space Fence Weapon System, with work to be performed in Moorestown, New Jersey through April 2027.

The company's Fort Worth division was also awarded a $23.8 million modification for upgrading and integrating an aircraft communications system, with completion expected by February 2027.

You May Also Be Interested In