Lockheed Martin Lands 3 (and a Half) Army Contracts Thursday

The Department of Defense started off the new month with a bang Thursday (if you'll pardon the expression), announcing the award of 33 separate defense contracts, worth a combined $1.5 billion. One of the biggest winners was Lockheed Martin (NYSE: LMT  ) , which walked away with three clean contract wins... and a piece of a fourth.

Lockheed's big win of the day was a $223-million deal to outfit Korean attack helicopters, built by Boeing, with a new advanced targeting system. As for the others:

  • Lockheed won a $25.8 million contract modification to fund follow-on testing as part of the Patriot Advanced Capability 3 (PAC-3) Missile Segment Enhancement program. PAC-3 MSE will upgrade the venerable Patriot missiles with new flight software, a more powerful motor, and larger fins "for more agility." The hope is that these changes will extend the missiles range by as much as 50%.
  • In a related award, Lockheed also won a $9.6 million contract modification to perform unscheduled maintenance at the Army's PAC-3 Missile Support Center.
  • Finally, Lockheed's Longbow LLC subsidiary -- a joint venture between Lockheed Martin and Northrop Grumman (NYSE: NOC  ) -- was awarded a $6.8 million contract modification to fund low-rate initial production of its Radar Electronics Unit and Unmanned Aerial System Tactical Common Data Link Assembly (Longbow UTA ). This latter device is a "two-way, high-bandwidth data link" through which the Army aims to use Apache helicopters as a sort of control ship for operating unmanned aerial vehicles -- forming joint manned-unmanned teams of warcraft that can cooperate in combat.

Read/Post Comments (0) | Recommend This Article (4)

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.

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: 2575342, ~/Articles/ArticleHandler.aspx, 9/16/2014 3:57:42 PM

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...

Apple's next smart device (warning, it may shock you

Apple recently recruited a secret-development "dream team" to guarantee its newest smart device was kept hidden from the public for as long as possible. But the secret is out. In fact, ABI Research predicts 485 million of this type of device will be sold per year. But one small company makes Apple's gadget possible. And its stock price has nearly unlimited room to run for early-in-the-know investors. To be one of them, and see Apple's newest smart gizmo, just click here!


Advertisement