Lockheed Martin Wins Defense Contracts for Avionics, Radar, and Missile Defense

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The Department of Defense announced a staggering 51 new contracts Monday, the most contracts it's awarded on any single day, at any time this year. And of these 51 contracts, Lockheed Martin (NYSE: LMT  ) won three:

  • $98.4 million: a firm-fixed-price, indefinite-delivery/indefinite-quantity contract to supply "up to" 50 AN/APS-153(V)1 automatic radar periscope detect-and-discrimination multi-mode radar kits to the U.S. Navy. These radar systems will be used to upgrade the Navy's MH-60R Sikorsky Seahawk helicopters, and are to be delivered by September 2016.
  • $67.3 million: a firm-fixed-price delivery order to supply mission avionics and common cockpits, including equipment specific to the requirements of the Danish military, and to provide non-recurring engineering, program support, and associated efforts also necessary to finish outfitting nine MH-60R Sikorsky Seahawk aircraft for the Government of Denmark under America's foreign military sales program. Delivery is due June 2018.
  • $20 million: an option exercise on a preexisting contract to "support advanced concepts initiatives" by the U.S. Missile Defense Agency's Aegis Ballistic Missile Defense Program Office, which is working to identify technology that can be used to upgrade the Aegis Ballistic Missile Defense system. Lockheed will be working on this contract through June 30, 2014. 

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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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4/28/2016 4:02 PM
LMT $232.72 Down -0.93 -0.40%
Lockheed Martin Co… CAPS Rating: ****