Core Insights - Lockheed Martin Corporation's unit, Rotary and Mission Systems, secured a $12.3 million modification contract to provide hardware spares for the U.S. Navy's Sonar systems, expected to be completed by September 2030 [1] - The global sonar systems market is projected to grow at a compound annual growth rate of 4.4% from 2025 to 2030, driven by increased military investments and demand for advanced underwater surveillance [2][3] Company Developments - Lockheed Martin continues to be a key player in the sonar technology sector, supplying advanced systems for the U.S. Navy and allied forces, with a focus on anti-submarine warfare solutions [3] - In February, Lockheed secured a larger contract worth $114.2 million for similar support of the U.S. Navy's sonar systems [4] Market Opportunities - Other defense companies benefiting from the expanding sonar systems market include: - RTX Corporation, which develops advanced sonar systems with a long-term earnings growth rate of 9.7% and a projected 4.4% year-over-year sales growth for 2025 [5][6] - Northrop Grumman Corporation, providing integrated sonar solutions with a long-term earnings growth rate of 4.2% and a projected 3% year-over-year sales growth for 2025 [6][7] - General Dynamics, offering advanced sonar systems for submarines, with a long-term earnings growth rate of 9.8% and a projected 5.5% year-over-year sales growth for 2025 [7] Stock Performance - Lockheed Martin's shares have decreased by 2.1% over the past year, compared to a 4.3% decline in the industry [8]