Defense Contractors Crowing Over Aegis Ballistic Missile Defense Success

Over the past few weeks, the Department of Defense has awarded Lockheed Martin (NYSE: LMT  ) more than $74 million worth of contracts related to its work on the upgraded Aegis air defense system known as "Aegis Ballistic Missile Defense" that aims to upgrade the shipborne Aegis system so that it can shoot down ICBMs. Yesterday, taxpayers got a glimpse of what they've been paying for.

In an announcement quickly echoed across the industrial-military complex by everyone involved -- from Alliant Techsystems (UNKNOWN: ATK.DL  ) , which built the rocket engine, to Raytheon (NYSE: RTN  ) , which built the Standard Missile-3, to Lockheed itself -- Lockheed announced yesterday that its Aegis Ballistic Missile Defense successfully "killed" a medium range ballistic missile target in a test of the system.

As described in the announcement: "U.S. Navy sailors aboard USS Lake Erie (CG-70) received tracking information from space tracking and surveillance satellites and launched the missile before the shipboard SPY-1 radar detected the target. The Aegis BMD Weapon System then guided the missile using tracking information from the space-based assets until the target was detected and tracked by the SPY-1 radar. The shipboard radar transmitted guidance commands to the SM-3 guided missile that intercepted the target."

Lockheed said in a statement that this is the ninth time in three years that the USS Lake Erie has been able to use Aegis BMD in tests against cruise and ballistic missile targets.

"Using accurate tracking information from a satellite to flexibly enable expanded battlespace and the capabilities of the sea-based Aegis BMD system may prove to be one of the program's most significant milestones," Nick Bucci, director of BMD development programs for Lockheed Martin's Mission Systems and Training business, was quoted as saying.



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: 2255974, ~/Articles/ArticleHandler.aspx, 9/29/2016 6:10:03 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 8 hours ago Sponsored by:
DOW 18,339.24 110.94 0.61%
S&P 500 2,171.37 11.44 0.53%
NASD 5,318.55 12.84 0.24%

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

9/28/2016 4:01 PM
LMT $245.75 Down -0.04 -0.02%
Lockheed Martin CAPS Rating: ****
ATK.DL $0.00 Down +0.00 +0.00%
Alliant Techsystem… CAPS Rating: ****
RTN $139.37 Up +0.26 +0.19%
Raytheon CAPS Rating: ****