NOAA's newest satellite will complete the GOES-R series and provide critical weather and climate dataKENNEDY SPACE CENTER, Fla., June 25, 2024 /PRNewswire/ -- An advanced weather satellite built by Lockheed Martin [NYSE: LMT] for the National Oceanic and Atmospheric Administration (NOAA) launched today from NASA's Kennedy Space Center at 5:26 p.m. ET. Lifted to space aboard a Space X Falcon Heavy rocket, the GOES-U satellite successfully deployed its large solar array to generate electrical power and has es ...

Lockheed Martin Corp. (LMT) recently announced that it clinched a contract worth $2.27 billion to design and construct a spacecraft for the Geostationary Extended Observations (GeoXO) satellite program. The spacecraft will be delivered to the National Oceanic and Atmospheric Administration (“NOAA”).Details of the DealPer the terms of the deal awarded by NASA, Lockheed will build three spacecraft, with the option of constructing additional spacecraft. The work related to this contract will be carried out in ...

Core Viewpoint - Lockheed Martin's Aeronautics unit has secured a $63.5 million modification contract for the F-35 fighter jet program, enhancing infrastructure support and developmental flight test activities, expected to be completed by August 2024 [1][2]. Deal Details - The contract is valued at $63.5 million and will support the U.S. Navy, Air Force, Marine Corps, and F-35 cooperative program partners, with most work conducted in Fort Worth, TX [2]. - The modification includes engineering, maintenance, logistics, manpower, and material aid for F-35 Joint Strike Fighter laboratory facilities and flight test activities [2]. Favorable Conditions for Lockheed - Global military capabilities are being reinforced due to increasing threats, leading to heightened demand for military aircraft, particularly Lockheed's F-35, which is recognized as the most lethal fighter jet [3][4]. - Lockheed has delivered 992 F-35 airplanes to date, with a backlog of 373 jets as of March 31, 2024, indicating strong demand in the combat jet market [4]. Growth Prospects - The global military aviation market is projected to grow at a CAGR of 5.2% from 2024 to 2030, presenting significant growth opportunities for combat jet manufacturers like Lockheed [5]. - Lockheed's Aeronautics segment is involved in various aspects of military aircraft, including research, design, development, and support, with a diverse fighter jet portfolio [5]. Peer Opportunities - Other defense companies such as Airbus, Boeing, and Northrop Grumman are also positioned to benefit from the expanding military aviation market [6][7]. - Airbus has delivered 1,783 military aircraft as of December 31, 2023, and has a long-term earnings growth rate of 17.9% [6]. - Boeing's product portfolio includes various combat-proven aircraft, with a long-term earnings growth rate of 25.5% [7]. - Northrop Grumman has received significant awards in 2023, including $2.1 billion for F-35 programs, and has a long-term earnings growth rate of 8.7% [7]. Stock Performance - Over the past year, Lockheed Martin's shares have increased by 3.2%, contrasting with a 10.9% decline in the industry [9].

NOAA's Geostationary Extended Observations weather satellites to bring new critical measurements and advanced weather forecasting capabilityDENVER, June 18, 2024 /PRNewswire/ -- NASA has selected Lockheed Martin [NYSE: LMT] to develop and build the nation's next generation weather satellite constellation, Geostationary Extended Observations (GeoXO), for the National Oceanic and Atmospheric Administration (NOAA).The baseline contract is for three spacecraft with options for four additional spacecraft. The to ...

Lockheed Martin Corp.’s (LMT) business segment, Missiles and Fire Control (MFC), recently clinched a contract for Phased Array Tracking to Intercept of Target Advanced Capability-3 (PAC-3) software. The award has been offered by the Army Contracting Command, Redstone Arsenal, AL.Valued at $65.5 million, the contract is expected to be completed by Jun 30, 2026. Work related to this deal will be carried out in Grand Prairie, TX, as well as Bahrain, Germany, Japan, Kuwait, the Netherlands, Poland, Qatar, Roman ...

MARIETTA, Ga., June 18, 2024 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) recently delivered the 2,700th Hercules multi-mission tactical airlifter, increasing the size, reach and strength of the worldwide C-130 fleet.This landmark aircraft is a KC-130J Super Hercules tanker operated by the U.S. Marine Corps Aerial Refueler Transport Squadron 252 at Marine Corps Air Station at Cherry Point, North Carolina.Lockheed Martin Photograph by David L. KeyDefined by its proven performance and unmatched versatility, op ...

The most recent trading session ended with Lockheed Martin (LMT) standing at $459.01, reflecting a +0.15% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.77%. Elsewhere, the Dow saw an upswing of 0.49%, while the tech-heavy Nasdaq appreciated by 0.95%.Prior to today's trading, shares of the aerospace and defense company had lost 1.69% over the past month. This has was narrower than the Aerospace sector's loss of 1.9% and lagged the S&P 500's gain of 3.71% in th ...

Lockheed Martin could play a large role in helping smaller space companies to IPO.Valued at $110 billion and doing nearly $70 billion in annual business, Lockheed Martin (LMT -0.05%) is the world's biggest defense company. It's also a major player in space.Lockheed Martin builds the Orion spacecraft that will one day carry NASA astronauts (back) to the moon, making it an integral part of NASA's Project Artemis. Lockheed owns half of United Launch Alliance, still the preferred provider of satellite launches ...

Visiongain has published a new report entitled Defence Electronics Market Report 2024-2034: Forecasts by Platform (Airborne, Marine, Land), by EW Systems (Radar Jamming Systems, Electronic Countermeasures, Signal Intelligence Systems, Other), by ISR Sensors (Electro-Optical/Infrared (EO/IR) Sensors, Synthetic Aperture Radar (SAR), Electronic Support Measures (ESM), Magnetic Anomaly Detection (MAD) Systems, Other), by Type (Command, Control and Communication Systems, Electronic Warfare Systems, Surveillance ...

Lockheed Martin Corp.’s (LMT) Aeronautics business segment recently secured a contract to procure aircraft armament equipment for its F-35 fighter jets. The award has been provided by the Naval Air Systems Command, Patuxent River, MD.Details of the DealValued at $97 million, the contract is projected to be completed by February 2028. Per the terms of the deal, Lockheed will procure aircraft armament equipment like internal adapters and weapon umbilical cables required to employ long-range strike weapons. Th ...