Lockheed Martin wins $416M in defense contracts

Investing.com - Lockheed Martin Corp. (NYSE: LMT) was awarded three defense contracts totaling more than $416 million by the U.S. Department of War, the agency announced today.

The largest award is a $347.5 million cost-plus-incentive-fee contract granted to Lockheed Martin Missile and Fire Control in Grand Prairie, Texas, for development, fabrication and testing of improvements to prototype air and missile defense systems. Army Contracting Command in Redstone Arsenal, Alabama, solicited bids via the internet and received one submission. Work locations and funding will be determined with each order, with an estimated completion date of Dec. 31, 2028.

Lockheed Martin in Grand Prairie was also awarded a $35.82 million cost-plus-incentive-fee contract for the Advanced Capability-3 Software Task, Year Nine. Army Contracting Command solicited bids via the internet and received one submission. Work locations and funding will be determined with each order, with an estimated completion date of June 30, 2027.

Lockheed Martin Rotary and Mission Systems in Owego, New York, received a $33.46 million cost-plus-fixed-fee order against a previously issued basic ordering agreement. The order provides non-recurring engineering for the AN/ARQ-59 Common Data Link to mitigate component obsolescence and integrate the Common Crypto Modernization Compact Multi-Band Data Link 2, replacing the legacy Mini-T modem in support of future production for the MH-60R Seahawk for Foreign Military Sales customers.

Work will be performed in Owego, New York, and is expected to be completed in July 2029. Foreign Military Sales customer funds in the amount of $24 million will be obligated at the time of award. Naval Air Systems Command in Patuxent River, Maryland, is the contracting activity.

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