Lockheed Martin wins $150 million in defense contracts

Investing.com -- The U.S. Department of Defense awarded Lockheed Martin Corp (NYSE: LMT) three separate contract modifications totaling more than $150 million for various defense programs, according to announcements made Friday.

The largest award went to Lockheed Martin Space in Titusville, Florida, which received a $90.2 million cost-plus-fixed-fee modification for the TRIDENT II Life Extension 2 SSP Alteration Advanced Design and Development Program. The work will be spread across multiple locations, with 68% in Kings Bay, Georgia, 25% in Cape Canaveral, Florida, 5% in Bangor, Washington, and 1% in Denver, Colorado. The project is scheduled for completion by Sept. 30, 2030. The Portfolio Acquisition Executive Strategic Systems Programs in Washington, D.C., awarded the contract on a sole source basis under 10 U.S. Code 2304(a)(1).

Lockheed Martin Rotary and Mission Systems in Moorestown, New Jersey, secured a $40.1 million cost-plus-fixed-fee and cost-only modification to provide engineering integration, technical support, and depot operations for the MK 41 Vertical Launching System electronic systems and computer programs. The work will primarily take place in Moorestown, New Jersey (60%), with additional efforts in Ventura, California (16%), San Diego, California (10%), and several other locations. The Naval Sea Systems Command expects completion by December 2027.

The third contract went to Lockheed Martin Rotary Mission Systems in Stratford, Connecticut, which received a $20.3 million modification for HH-60W repairs. This brings the total cumulative value of the original contract to $6.5 billion from $6.4 billion. Work will be performed in Stratford, Connecticut, with completion expected by April 30, 2027.

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