Lockheed Martin to Play Role in 2 Missile Defense Contracts

The U.S. Department of Defense awarded two new contracts related to missile defense Wednesday, to two separate contractors, and on two separate continents.

The larger of the two awards, and by a few orders of magnitude, went to government contractor KBR (NYSE: KBR  ) , which won a firm-fixed-price, option-filled contract valued at up to $134.2 million to develop and construct a land-based missile defense system to be built in Deveselu, Romania. According to Time magazine, the missile base will be constructed on 430 acres of property located -- and we quote -- "125 miles southwest of Count Dracula's castle."

Once complete, the base is expected to be equipped with as many as two dozen Raytheon (NYSE: RTN  ) Standard Missile-3 interceptor rockets, and will become part of the Aegis Ashore Missile Defense System (AAMDS), a Lockheed Martin  (NYSE: LMT  )  project designed to convert the Aegis air defense system into a defense against intercontinental ballistic missiles.

Speaking of Lockheed Martin, it was actually the recipient of the second missile defense contract awarded today. This one, for $12 million, will pay Lockheed Martin's Information Systems & Global Services division to support critical mission operations at the North America Aerospace Defense Command, or NORAD, Cheyenne Mountain Complex. 

NORAD is in the process of "incrementally transition[ing] away" from its Cold War-era legacy space situational awareness mission. Lockheed Martin's role in this contract will be to help NORAD take the next step toward building a high-performance, sustainable, and network-centric computing platform for monitoring objects in space. Lockheed Martin is expected to complete work on this contract by Jan. 9, 2015.

Read/Post Comments (2) | Recommend This Article (0)

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.

  • Report this Comment On July 11, 2013, at 2:49 AM, stevor86 wrote:

    "protecting" from "war" is BIG MONEY!

  • Report this Comment On July 12, 2013, at 2:08 AM, Ali9119 wrote:

    The US of A. Where military industrial complexes rule the roost. It is where these giga-corporations make foreign policy and not the govt in Washington.

Add your comment.

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: 2531430, ~/Articles/ArticleHandler.aspx, 9/30/2016 1:13:33 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 3 hours ago Sponsored by:
DOW 18,143.45 -195.79 -1.07%
S&P 500 2,151.13 -20.24 -0.93%
NASD 5,269.15 -49.39 -0.93%

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

9/29/2016 4:00 PM
KBR $14.91 Up +0.04 +0.27%
KBR CAPS Rating: *****
LMT $242.34 Down -3.41 -1.39%
Lockheed Martin CAPS Rating: ****
RTN $136.54 Down -2.83 -2.03%
Raytheon CAPS Rating: ****