Deals Involving Lockheed Martin Weapons Could Total $7.6 Billion

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

As defense contractors buckle down for sequestration here in the U.S., they're seeing a sunnier picture overseas. On Friday,  the U.S. Defense Security Cooperation Agency notified Congress that it is in talks with the governments of Qatar and the United Arab Emirates regarding possible weapons sales with estimated costs of $6.5 billion and $1.135 billion, including associated equipment, parts, training, and logistical support.

The weapons in question -- Lockheed Martin's (NYSE: LMT  ) Terminal High Altitude Area Defense system, or THAAD  -- are designed to intercept and destroy medium-range and long-range ballistic missiles. They are specifically designed to work in conjunction with advanced ship-borne radar systems carried by U.S. Naval Aegis-class cruisers and destroyers.

If approved by Congress, this would be Qatar's first purchase of the THAAD system, and the UAE's second.

The agency lists Lockheed Martin Space Systems and Raytheon (NYSE: RTN  ) as principal contractors in the UAE deal, while the Qatar deal lists Lockheed Martin Space Systems as principal contractor and Raytheon as subcontractor.

Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2098218, ~/Articles/ArticleHandler.aspx, 6/29/2016 8:49:32 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 11 hours ago Sponsored by:
DOW 17,409.72 269.48 0.00%
S&P 500 2,036.09 35.55 0.00%
NASD 4,691.87 97.42 0.00%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

6/28/2016 4:02 PM
LMT $240.91 Up +1.62 +0.00%
Lockheed Martin CAPS Rating: ****
RTN $132.99 Down -1.81 +0.00%
Raytheon CAPS Rating: ****