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Lockheed Martin (LMT) Wins $357M AEGIS Support Contract
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Lockheed Martin Corp. (LMT - Free Report) has secured a U.S. Navy contract for support services of the Advanced Electronic Guidance and Instrumentation System (AEGIS) program. The contract is slated to be completed by Nov 2019.
This is a cost-plus-fixed-fee contract that covers in-service combat systems engineering, computer program maintenance, annual inspection, regular overhaul execution support, in-country support and staging. Lockheed Martin will also replace Japan’s legacy cathode ray tube character readout devices and provide logistics depot support for Norway’s unique line replaceable units.
This defense contract involves foreign military sales (“FMS”) to support the naval forces of Japan, South Korea, Norway, Australia and Spain through AEGIS implementation studies for future FMS shipbuilding programs.
This contract has a base value of $357 million and includes options which, if exercised, would bring the total contract value to $421 million.
Work under the contract will be carried out in California, New Jersey and Washington D.C., as well as in Adelaide, Australia; Changwon and Busan, South Korea; Tokyo, Nagasaki, Maizuru, Yokosuka and Yokohama in Japan; Bergen, Norway; and Sydney, Australia.
Lockheed Martin is the largest U.S. defense contractor, with a platform-centric focus that guarantees a steady inflow of follow-on orders from a leveraged presence in the U.S. Army, Air Force, Navy and IT programs. The company’s diverse product offerings allow it to enjoy a consistent stream of orders from the U.S. and allied partners.
Recently, it won a contract from the U.S. Army for work on Sensor Systems – Aerial Intelligence, Surveillance and Reconnaissance (“SS-AISR”). With an initial term of one year, the contract offers two one-year options and has been valued at $733 million.
Earlier this month, Lockheed Martin received a $331.8 million contract from the U.S. Army for the Lot 11 Guided Multiple Launch Rocket System (“GMLRS”) rockets for domestic as well as international customers.
Lockheed Martin currently has a Zacks Rank #3 (Hold).
Stocks to Consider
A few better-ranked stocks in the aerospace and defense space include Engility Holdings, Inc. , Leidos Holdings, Inc. (LDOS - Free Report) and CAE Inc. (CAE - Free Report) , each carrying a Zacks Rank #2 (Buy).
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Lockheed Martin (LMT) Wins $357M AEGIS Support Contract
Lockheed Martin Corp. (LMT - Free Report) has secured a U.S. Navy contract for support services of the Advanced Electronic Guidance and Instrumentation System (AEGIS) program. The contract is slated to be completed by Nov 2019.
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This is a cost-plus-fixed-fee contract that covers in-service combat systems engineering, computer program maintenance, annual inspection, regular overhaul execution support, in-country support and staging. Lockheed Martin will also replace Japan’s legacy cathode ray tube character readout devices and provide logistics depot support for Norway’s unique line replaceable units.
This defense contract involves foreign military sales (“FMS”) to support the naval forces of Japan, South Korea, Norway, Australia and Spain through AEGIS implementation studies for future FMS shipbuilding programs.
This contract has a base value of $357 million and includes options which, if exercised, would bring the total contract value to $421 million.
Work under the contract will be carried out in California, New Jersey and Washington D.C., as well as in Adelaide, Australia; Changwon and Busan, South Korea; Tokyo, Nagasaki, Maizuru, Yokosuka and Yokohama in Japan; Bergen, Norway; and Sydney, Australia.
Lockheed Martin is the largest U.S. defense contractor, with a platform-centric focus that guarantees a steady inflow of follow-on orders from a leveraged presence in the U.S. Army, Air Force, Navy and IT programs. The company’s diverse product offerings allow it to enjoy a consistent stream of orders from the U.S. and allied partners.
Recently, it won a contract from the U.S. Army for work on Sensor Systems – Aerial Intelligence, Surveillance and Reconnaissance (“SS-AISR”). With an initial term of one year, the contract offers two one-year options and has been valued at $733 million.
Earlier this month, Lockheed Martin received a $331.8 million contract from the U.S. Army for the Lot 11 Guided Multiple Launch Rocket System (“GMLRS”) rockets for domestic as well as international customers.
Lockheed Martin currently has a Zacks Rank #3 (Hold).
Stocks to Consider
A few better-ranked stocks in the aerospace and defense space include Engility Holdings, Inc. , Leidos Holdings, Inc. (LDOS - 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 >>