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Lockheed (LMT) Gets $80M Contract for Frigate Ship Program
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Lockheed Martin Corp. (LMT - Free Report) won a contract for the U.S. Navy’s frigate ship program. The five-year contract is worth up to $79.5 million and covers fiscal years 2016 to 2021.
Per the contract, the U.S. Navy will use Lockheed Martin’s COMBATSS-21 or COMponent-BAsed Total-Ship System—21st Century as the combat management system for the program.
COMBATSS-21 is the combat management system that is currently deployed on the Freedom variant Littoral Combat Ship (LCS). Manufactured from the Aegis Common Source Library (CSL), COMBATSS-21 shares a pedigree with the Aegis Baseline 9 software developed for the Aegis cruiser and destroyer fleet, as well as international ships, the Aegis Ashore system, LCS and the Coast Guard National Security Cutters.
Being an Aegis Combat System Engineering Agent, Lockheed Martin supplies advanced combat management systems and conducts the entire combat system integration life-cycle. This allows navies around the world to meet their most critical mission objectives.
Lockheed Martin has already delivered and integrated Aegis and Aegis-based products on 126 platforms in eight nations, with an additional 23 under construction or planned.
The U.S. Navy cruisers, destroyers, LCS, Coast Guard National Security Cutters and Aegis Ashore sites are currently operating Aegis and Aegis-derived systems. The navies of Japan, Spain, Norway, the Republic of Korea as well as Australia have also chosen Aegis to safe guard their nations.
Zacks Rank & Key Picks
Lockheed Martin currently has a Zacks Rank #3 (Hold). Better-ranked stocks in the same space include Engility Holdings, Inc. , Ducommun Inc. (DCO - Free Report) and General Dynamics Corp. (GD - Free Report) . While Engility Holdings and Ducommun sport a Zacks Rank #1 (Strong Buy), General Dynamics carries a Zacks Rank #2 (Buy).
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Lockheed (LMT) Gets $80M Contract for Frigate Ship Program
Lockheed Martin Corp. (LMT - Free Report) won a contract for the U.S. Navy’s frigate ship program. The five-year contract is worth up to $79.5 million and covers fiscal years 2016 to 2021.
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Per the contract, the U.S. Navy will use Lockheed Martin’s COMBATSS-21 or COMponent-BAsed Total-Ship System—21st Century as the combat management system for the program.
COMBATSS-21 is the combat management system that is currently deployed on the Freedom variant Littoral Combat Ship (LCS). Manufactured from the Aegis Common Source Library (CSL), COMBATSS-21 shares a pedigree with the Aegis Baseline 9 software developed for the Aegis cruiser and destroyer fleet, as well as international ships, the Aegis Ashore system, LCS and the Coast Guard National Security Cutters.
Being an Aegis Combat System Engineering Agent, Lockheed Martin supplies advanced combat management systems and conducts the entire combat system integration life-cycle. This allows navies around the world to meet their most critical mission objectives.
Lockheed Martin has already delivered and integrated Aegis and Aegis-based products on 126 platforms in eight nations, with an additional 23 under construction or planned.
The U.S. Navy cruisers, destroyers, LCS, Coast Guard National Security Cutters and Aegis Ashore sites are currently operating Aegis and Aegis-derived systems. The navies of Japan, Spain, Norway, the Republic of Korea as well as Australia have also chosen Aegis to safe guard their nations.
Zacks Rank & Key Picks
Lockheed Martin currently has a Zacks Rank #3 (Hold). Better-ranked stocks in the same space include Engility Holdings, Inc. , Ducommun Inc. (DCO - Free Report) and General Dynamics Corp. (GD - Free Report) . While Engility Holdings and Ducommun sport a Zacks Rank #1 (Strong Buy), General Dynamics carries 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 >>