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Lockheed Martin Awarded Over $150 Million in US Defense Contract Modifications
Lockheed Martin (NYSE: LMT) has secured three separate contract modifications from the U.S. Department of Defense with a combined value of over $150 million, according to a Friday announcement. The awards cover advanced development for the Trident II missile system, engineering support for naval launch systems, and helicopter repair services.
Breakdown of the Awards
The largest of the three modifications is a $90.2 million cost-plus-fixed-fee award to Lockheed Martin's space division in Titusville, Florida. This contract is for the Trident II Life Extension 2 program, focusing on advanced design and development. The work is expected to be completed by September 2030.
A second modification provides $40.1 million to the company's Rotary and Mission Systems unit in Moorestown, New Jersey. This award will fund engineering integration, technical support, and warehouse operations for the MK 41 Vertical Launching System's electronics and computer programs, with an estimated completion date of December 2027.
The third award is a $20.3 million modification for repair work on the HH-60W helicopter, also managed by the Rotary and Mission Systems division in Stratford, Connecticut. This modification increases the cumulative value of the original contract to $6.5 billion from $6.4 billion, with work scheduled to conclude by April 2027.
AdContext for Investors
These contract modifications represent continued investment by the Pentagon in key long-term strategic and tactical programs, reinforcing Lockheed Martin's role as a prime contractor. The awards provide sustained revenue streams for the company's space and rotary systems divisions over the next several years.
Work on the contracts will be distributed across multiple U.S. locations, including:
- Trident II: Kings Bay, Georgia (68%) and Cape Canaveral, Florida (25%).
- MK 41 VLS: Moorestown, New Jersey (60%).
- HH-60W: Stratford, Connecticut.
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