Lockheed Martin(LMT) ZACKS·2024-12-30 13:15Deal Details - The contract supports the U S Air Force Marine Corps Navy Foreign Military Sales customers and nonDepartment of Defense DOD program partners with a major portion of the work carried out in Fort Worth TX [1] - Valued at $3 37 billion the contract is expected to be completed by December 2025 with Lockheed providing logistics support for delivered F-35 jets including ground maintenance supply-chain management and training [10] Lockheed Martin LMT - LMT's Aeronautics business unit secured a modification contract for its F-35 Lightning II Joint Strike Fighter program awarded by the Naval Air Systems Command [4] - LMT has delivered 1 040 F-35 airplanes as of Sept 30 2024 reflecting strong demand for the fifth-generation jet [11] - LMT's robust portfolio includes the F-16 F-22 F-21 and F-35 jets benefiting from rising global defense spending [5][13] - Shares of LMT gained 4 8% in the past six months against the industry's 1 1% decline [18] Growth Prospects - Mordor Intelligence forecasts a compound annual growth rate of 3 7% for the global fighter aircraft market during 2024-2029 [8] - Escalating military conflicts terrorism and border disputes combined with advancements in combat jet technology are driving demand for fighter jets [12] Other Defense Companies - Northrop Grumman NOC has a long-term earnings growth rate of 19 1% with 2024 sales expected to grow 5 3% year-over-year [15] - Embraer ERJ's 2024 sales are expected to grow 18 6% year-over-year with earnings per share projected to grow 379 1% [16] - Boeing BA has a long-term earnings growth rate of 19 3% with 2025 sales expected to grow 22 5% year-over-year [17] - NOC builds advanced aircraft like the E-2C Hawkeye 2000 A-10 Thunderbolt II and F-5 Tiger Fighter Jet [2] - ERJ offers advanced aircraft including the A-29 Super Tucano and C-390 Millennium [6] - BA's Defense Space & Security segment produces combat-proven aircraft like the F/A-18 Super Hornet and C-17 Globemaster III [9]