On the first work-day of 2014, the Department of Defense awarded $671.3 million in funding through eight new defense contracts. Lockheed Martin (NYSE:LMT) won two of them:

  • A $14.4 million firm-fixed-price delivery order to supply one Mission Signal Processor equipment suite and two array simulator cabinets to the U.S. Navy by November 2015, for use at the Aegis Training and Readiness Center.
  • In a second Aegis-related award, a $9.7 million contract modification to produce electronics for the MK 41 Vertical Launching System (VLS) AEGIS Modernization module. This contract is due for completion by June 2015.

The MK41 VL  launches Standard Missiles to defeat airborne threats detected by Aegis. It is also used to fire Tomahawk cruise missiles, and even "ASROC" anti-submarine missiles.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.