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Lockheed Martin Wins $574.5 Million Aegis Weapons System Contract

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The Department of Defense announced 12 new defense contracts Friday, worth $1.07 billion combined. Lockheed Martin (NYSE: LMT  ) , the nation's largest pure-play defense contractor, was also the biggest winner of the day -- by far. The $822.5 million in contracts it pulled in accounted for 77% of the funds on offer, and included one single contract that accounted for more than half.

This contract, worth $574.5 million to Lockheed Martin, hires the firm on a firm-fixed-price basis for multi-year procurement of Aegis Weapon System MK 7 equipment sets for installation aboard U.S. Navy Arleigh Burke-class (DDG 51) guided missile destroyers currently under construction, and contains an option to have Lockheed Martin produce weapons for the Aegis Ashore Missile Defense System to be installed in Poland. The contract will run through September 2021.

Other winners of smaller awards Friday included:

  • British defense contactor BAE Systems (NASDAQOTH: BAESY  ) (LSE: BA  ) , which won a $16.5 million firm-fixed-price, partial-foreign military sales contract to supply Common Identification Friend or Foe hardware for the U.S. Army, U.S. Navy, and the governments of Korea, Taiwan, and the United Arab Emirates. Delivery is due January 2016.
  • Raytheon (NYSE: RTN  ) , recipient of a $40.9 million ceiling-priced delivery order to repair 40 Weapon Replaceable Assemblies of the APG 65/73 Radar System used on U.S. Navy F/A-18 fighter jets. Raytheon is to complete its work by December 2015.

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Rich Smith
TMFDitty

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

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