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Lockheed (LMT) Inks $12.8M Deal to Support C/KC-130J Aircraft
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Lockheed Martin (LMT - Free Report) announced that it has received a $12.8-million contract from the U.S. Navy to procure consumable parts and materials in support of the C/KC-130J aircraft for the Marine Corps, Marine Corps Reserves, Coast Guard and the government of Kuwait.
The work on this contract will be primarily done in the United States and 2.5% of the work will be performed in Kuwait. The contract work is expected to be completed by December 2023.
Importance of KC-130J
Lockheed is a global leader in Aerial refueling and has expertise in combat proven KC-130 Hercules tanker technologies. The new KC-130J is build on proven tanker designs while taking full advantage of tremendous technological and performance improvements inherent in the basic C-130J aircraft.
The aerial fuel tanker has been pivotal part of Marine Corps aviation operations since 1960, and the latest KC-130J refueling tanker is an improved version of the initial KC-130F and R-models. Compared with the legacy refueling models, the KC-130J delivers increased speed and fuel efficiency, improved payload/range capabilities, an integrated defensive suite, automated maintenance fault reporting, high-altitude ramp and door hydraulics, along with unmatched situational awareness with its digital avionics and dual Head Up Displays.
Future of Aerial Refueling Market
The importance of Aerial refueling is rising on a global scale as it increases the functional capacity of military aircrafts, and allows them to carry greater volumes of weapons as well as other essential objects at the time of take-off. Midair refueling allows aircrafts to remain airborne for a longer time and complete critical missions. The Boeing Company’s (BA - Free Report) KC-46 Pegasus tanker offers it exposure to the aerial refueling market. The KC-46A Pegasus is a widebody, multirole tanker. Boeing has already delivered the 34 KC-46 Pegasus tanker to the U.S military establishment.
Per a report from StartviewResearch, the global aerial refueling systems market is likely to reach a value of US$ 671.9 million in 2024. Rising demand for aerial refueling systems and components will benefit companies like Eaton Corporation (ETN - Free Report) and General Electric’s (GE - Free Report) unit GE Aviation, among others.
In the past six months, Lockheed’s shares have outperformed the industry.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
Image: Bigstock
Lockheed (LMT) Inks $12.8M Deal to Support C/KC-130J Aircraft
Lockheed Martin (LMT - Free Report) announced that it has received a $12.8-million contract from the U.S. Navy to procure consumable parts and materials in support of the C/KC-130J aircraft for the Marine Corps, Marine Corps Reserves, Coast Guard and the government of Kuwait.
The work on this contract will be primarily done in the United States and 2.5% of the work will be performed in Kuwait. The contract work is expected to be completed by December 2023.
Importance of KC-130J
Lockheed is a global leader in Aerial refueling and has expertise in combat proven KC-130 Hercules tanker technologies. The new KC-130J is build on proven tanker designs while taking full advantage of tremendous technological and performance improvements inherent in the basic C-130J aircraft.
The aerial fuel tanker has been pivotal part of Marine Corps aviation operations since 1960, and the latest KC-130J refueling tanker is an improved version of the initial KC-130F and R-models. Compared with the legacy refueling models, the KC-130J delivers increased speed and fuel efficiency, improved payload/range capabilities, an integrated defensive suite, automated maintenance fault reporting, high-altitude ramp and door hydraulics, along with unmatched situational awareness with its digital avionics and dual Head Up Displays.
Future of Aerial Refueling Market
The importance of Aerial refueling is rising on a global scale as it increases the functional capacity of military aircrafts, and allows them to carry greater volumes of weapons as well as other essential objects at the time of take-off. Midair refueling allows aircrafts to remain airborne for a longer time and complete critical missions. The Boeing Company’s (BA - Free Report) KC-46 Pegasus tanker offers it exposure to the aerial refueling market. The KC-46A Pegasus is a widebody, multirole tanker. Boeing has already delivered the 34 KC-46 Pegasus tanker to the U.S military establishment.
Per a report from StartviewResearch, the global aerial refueling systems market is likely to reach a value of US$ 671.9 million in 2024. Rising demand for aerial refueling systems and components will benefit companies like Eaton Corporation (ETN - Free Report) and General Electric’s (GE - Free Report) unit GE Aviation, among others.
Zacks Rank
Lockheed currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Price Performance
In the past six months, Lockheed’s shares have outperformed the industry.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>