Lockheed Martin Receives Air Force Contracts Valued at $449 Million

JASSM is integrated on multiple aircraft. Photo by Lockheed Martin, courtesy of the U.S. Air Force.

Lockheed Martin (NYSE: LMT  ) announced today it received two production contracts on Dec. 19 totaling $449 million from the U.S. Air Force. The contracts call for Lockheed Martin to continue production of its Joint Air-to-Surface Standoff Missile (JASSM), and the extended range (ER) variant. The two contracts include production of 340 baseline missiles and 100 ER missiles.

"These contracts bring the total number of JASSM cruise missiles on contract to over 2,100, and underscore the U.S. Air Force's and Lockheed Martin's commitment to the program," said Jason Denney, program director of Long Range Strike Systems at Lockheed Martin Missiles and Fire Control, in a press release. "JASSM's high reliability and capability allow it to defeat high-value, well-defended current and future threats."

Lockheed Martin's JASSM are important weapons for the U.S. Air Force and are integrated on the B-1B, B-2, B-52, F-16 and F-15E. The 2,000-pound cruise missiles have an infrared seeker and Global Positioning System to dial into specific target points and are highly effective against valuable and well-fortified targets, according to Lockheed.

Lockheed Martin's JASSM missles are produced at a manufacturing facility in Troy, Ala., that has assembled more than 1,400 JASSM missiles toward the U.S. Air Force's objective of 4,900.

link


Read/Post Comments (0) | Recommend This Article (1)

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: 2789279, ~/Articles/ArticleHandler.aspx, 10/22/2014 10:06:40 AM

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...


Advertisement