We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Lockheed Martin (LMT) Wins Navy Deal for MK 48 Torpedoes
Read MoreHide Full Article
Lockheed Martin Corp. (LMT - Free Report) has won a contract from the U.S. Navy to build the guidance and control systems for the MK 48 Mod 7 torpedoes. The contract has a potential value of $424.7 million, if all options are excercised.
Per the contract, Lockheed Martin will supply MK-48 common broadband advanced sonar system upgrade kits as well as MK 48 heavyweight torpedo guidance and control sections to the Navy. It also covers the testing of equipment, spares, production support material, engineering support, and hardware repair support.
These guidance and control systems will provide heavyweight torpedoes with improved bandwidth, and efficient targeting and tracking abilities, thereby enhancing the MK 48's efficiency as well as its counter-measure capacities.
The latest contract is part of a five-year initiative to grow the inventory of the MK 48 Mod 7 heavyweight torpedoes for the submarine fleet.
Over the next five years, the company may receive production orders for another 250 torpedoes from the Navy to be used as anti-submarine warfare (ASW) and anti-surface warfare (ASuW) weapons by all classes of submarines.
Work is scheduled to be complete by Dec 2019 and will be performed in Massachusetts, CA. The contract will use fiscal 2016 weapons procurement and spares funds.
The MK 48 is a heavyweight torpedo which can be launched from almost all military submarines. It is capable of tracking and destroying surface ships and submarines in shallow water as well as at depths of over 1,000 feet.
Lockheed Martin is the largest U.S. defense contractor with a platform-centric focus that guarantees a steady inflow of follow-on orders from its leveraged presence in the U.S. Army, Air Force, Navy and IT programs.
Lockheed Martin currently has a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked stocks in the aerospace and defense space include Engility Holdings, Inc. , BAE Systems plc (BAESY - Free Report) and CAE Inc. (CAE - Free Report) , each carrying a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Lockheed Martin (LMT) Wins Navy Deal for MK 48 Torpedoes
Lockheed Martin Corp. (LMT - Free Report) has won a contract from the U.S. Navy to build the guidance and control systems for the MK 48 Mod 7 torpedoes. The contract has a potential value of $424.7 million, if all options are excercised.
Per the contract, Lockheed Martin will supply MK-48 common broadband advanced sonar system upgrade kits as well as MK 48 heavyweight torpedo guidance and control sections to the Navy. It also covers the testing of equipment, spares, production support material, engineering support, and hardware repair support.
These guidance and control systems will provide heavyweight torpedoes with improved bandwidth, and efficient targeting and tracking abilities, thereby enhancing the MK 48's efficiency as well as its counter-measure capacities.
The latest contract is part of a five-year initiative to grow the inventory of the MK 48 Mod 7 heavyweight torpedoes for the submarine fleet.
Over the next five years, the company may receive production orders for another 250 torpedoes from the Navy to be used as anti-submarine warfare (ASW) and anti-surface warfare (ASuW) weapons by all classes of submarines.
Work is scheduled to be complete by Dec 2019 and will be performed in Massachusetts, CA. The contract will use fiscal 2016 weapons procurement and spares funds.
The MK 48 is a heavyweight torpedo which can be launched from almost all military submarines. It is capable of tracking and destroying surface ships and submarines in shallow water as well as at depths of over 1,000 feet.
Lockheed Martin is the largest U.S. defense contractor with a platform-centric focus that guarantees a steady inflow of follow-on orders from its leveraged presence in the U.S. Army, Air Force, Navy and IT programs.
Lockheed Martin currently has a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked stocks in the aerospace and defense space include Engility Holdings, Inc. , BAE Systems plc (BAESY - Free Report) and CAE Inc. (CAE - Free Report) , each carrying a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>