Lockheed Martin Corp. ( LMT Quick Quote LMT - Free Report) recently clinched a contract to provide Modernized Target Acquisition Designation Sight/Pilot Night Vision Sensor performance-based logistics program for Boeing’s ( BA Quick Quote BA - Free Report) AH-64 Apache helicopter. The deal has been awarded by the U.S. Army Contracting Command, Redstone Arsenal, AL.
Valued at $49.8 million, the contract is scheduled to be completed by Dec 31, 2025. The entire task will be executed in Orlando, FL.
A Brief Note on the M-TADS/PNVS Systems
The Modernized Target Acquisition Designation Sight/Pilot Night Vision Sensor (M-TADS/PNVS), also known as Arrowhead, is an electro-optical sensor that provides enhanced situational awareness to Apache’s aircrew with greater performance and survivability. It offers long-range, precision engagement and pilotage solution for missions conducted during the day, night or adverse weather conditions.
What’s Favoring Lockheed Martin?
Rising need for improved military performance, integration of high-performance miniaturized electronic systems and increasing demand for lightweight textiles are driving growth of the military sensor market. Being a prominent defense contractor in the United States, Lockheed Martin has been winning a number of contracts from Pentagon, related to sensor systems and their upgrades.
Steady and regular order inflows for the company’s Rotary and Mission Systems (RMS) unit, which manufactures varied sensor systems, tend to drive the top line. Notably, the segment recorded first-quarter 2021 net sales of $4.11 billion, which improved a solid 10% year over year. We expect smooth order flow from the Pentagon to enable the RMS unit to deliver such solid performance in the coming days.
Per a Morder Intelligence report, the global combat aircraft market is expected to witness a CAGR of 4% during the 2020-2025 time period. Such growth can be attributed to increasing global threats, geopolitical instabilities and higher spending on defense. These projections bode well for combat jet manufacturers like Lockheed Martin, Boeing,
Northrop Grumman ( NOC Quick Quote NOC - Free Report) and Airbus ( EADSY Quick Quote EADSY - Free Report) . Zacks Rank and Price Movement
In a year’s time, shares of Lockheed, a Zacks Rank #3 (Hold) company, have lost 4.6% against the
industry’s 14.9% rise. You can see . the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here Image Source: Zacks Investment Research Infrastructure Stock Boom to Sweep America
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