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Lockheed Martin Wins More Than $4.4 Billion in Defense Contracts Friday

The Department of Defense announced a mind-boggling 113 separate contract awards on Friday, worth $10.92 billion in total. Amazing as this number is, however, three other numbers are even more impressive: One single company won nine of these contracts -- and more than 40% of the Pentagon's money.

That company is Lockheed Martin (NYSE: LMT  ) , the nation's largest pure-play defense contractor, and it won the bulk of its funding from a pair of megacontracts for the production of 40 F-35 Lightning II fighter jets for the U.S. and its allies. Combined, those two contracts are worth $4.15 billion -- but they were far from the only contracts Lockheed won yesterday. Its other wins:

  • $97.4 million: a non-multi-year, firm-fixed price contract with options to continue providing IT services to the U.S. Army Corps of Engineers.
  • $96.3 million: a contract modification to provide logistics support services to the Air Force's Space Based Infrared Systems, including operations crew support and organizational and depot maintenance, through Sept. 30, 2014.
  • $29.4 million: a contract modification to perform aircrew training and provide logistics support for the Air Force's C-130J Super Hercules transport aircraft's Maintenance and Aircrew Training System devices.
  • $27.5 million: a cost-plus-fixed-fee contract to support the delivery, installation, maintenance, upgrade, and repair of Navy AN/BLQ-10(V) submarine electronic warfare systems delivered through September 2016.
  • $21.5 million: a contract modification to convert weapon system trainers working on the C-130 ATS II program (which trains aircrews to service the Air Force's C-130 Hercules transport aircraft) from the H1 configuration to the H2 configuration by July 31, 2017.
  • $8.8 million: a contract modification to incorporate "Option X" software upgrades into Air Force Increment 2 HC/MC-130J aircraft. The HC-130J Combat King II aircraft is a C-130 airplane tweaked to specialize in combat search and rescue missions. The MC-130J is tailored for special forces work. Lockheed should complete work on this contract by Dec. 23, 2015.
  • $8.6 million: a contract modification of unspecified import, relating to the Air Force's C-130J Training System Support Center. 

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8/23/2016 4:02 PM
LMT $249.75 Down -4.45 -1.75%
Lockheed Martin CAPS Rating: ****