Lockheed Secures a $720M Contract for JAGM & Hellfire Missiles

Group 1: Contract and Production Details - Lockheed Martin Corporation secured a modification contract valued at $720.1 million to produce Joint Air-to-Ground Missiles (JAGM) and Hellfire missiles, with work to be completed by September 30, 2028 [1][8] - The contract was awarded by the U.S. Army Contracting Command, indicating strong demand for Lockheed's missile systems [1][2] Group 2: Market Demand and Growth - Global defense spending is increasing, particularly in advanced military arms and missile systems, benefiting Lockheed Martin as a leading manufacturer [2][4] - The missile and missile defense systems market is projected to grow at a compound annual growth rate of 5% from 2025 to 2030, driven by rising military conflicts and national security concerns [4][5] Group 3: Product Capabilities - The Hellfire missile is a multipurpose system effective against a wide range of targets, while JAGM combines Hellfire and LONGBOW capabilities for multi-domain combat solutions [3][8] - Lockheed's Missile and Fire Control unit is recognized for high-performance missiles and operates in over 50 countries, with key programs including the Patriot Advanced Capability-3 and Terminal High Altitude Area Defense [5][6] Group 4: Competitive Landscape - Other defense companies like Northrop Grumman, RTX Corporation, and Boeing are also positioned to benefit from the expanding missile market, each offering advanced missile defense technologies and systems [6][7][9]