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Lockheed Martin Wins $223 Million Contract for Korean Helicopters

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Thursday was a very good day indeed to be a Lockheed Martin (NYSE: LMT  ) shareholder. Upon release of the Pentagon's daily issuance of new contract award announcements, it became apparent that Lockheed was one of the day's bigger winners, landing three clean contract wins and a piece of a fourth.

The biggest and most significant win for Lockheed was its receipt of a $223.3 million firm-fixed-price, Foreign Military Sales (FMS) contract to supply Modernized-Target Acquisition Designations Sight Pilot Night Vision Sensors to the Government of South Korea. Known by the cumbersome acronym "M-TADS/PNVS," these are advanced electro-optical fire control systems that AH-64D/E Apache attack helicopter pilots use to fly their helicopters and target their weapons systems in daylight, at night, and in adverse weather conditions.

In April, Boeing (NYSE: BA  ) confirmed that it had won a contract to supply the Korean military with 36 such AH-64E Apache attack helicopters (a $1.6 billion deal for Boeing). Today's contract win for Lockheed appears to be tied to that Boeing win.

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Rich Smith

I like things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.

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Related Tickers

2/5/2016 4:00 PM
BA $122.56 Down -1.05 -0.85%
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