Lockheed Martin Corporation (LMT) Secures Multimillion Defense Contracts Strengthening Pipeline

Lockheed Martin Corporation (NYSE:LMT) is one of the defence & aerospace stocks gaining from rising geopolitical spending. On January 22, the institution secured a $9.58 cardinal declaration modification for combat systems integration and testing. The declaration covers littoral combat ships and unmanned aboveground vessels.

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Work nether the declaration is to beryllium performed by Lockheed’s Rotary and Mission Systems part crossed aggregate locations. The Navy expects the institution to implicit enactment nether the declaration by February 2027.

This declaration follows the company’s securing 2 defence contracts totaling $225 cardinal for rocket systems and naval weapons support. The U.S. Department of War has granted the institution a $202.8 cardinal modification to an existing declaration for enactment connected PAC-3 missiles.  The declaration covers inspection, recertification, and repair services to instrumentality the missiles to serviceable condition.

The company’s Lockheed Martin Rotary and Mission Systems portion has besides received a $22.2 cardinal cost-plus-fixed-fee contract. The declaration covers lifecycle logistics, engineering, and method services for in-service and post-production Aegis systems connected assorted vessels.

Lockheed Martin Corporation (NYSE:LMT) is simply a planetary aerospace, defense, security, and exertion company, chiefly focused connected researching, designing, developing, manufacturing, and sustaining precocious exertion systems.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.