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Lockheed Martin (LMT) Wins $70M Deal for F-22 Sustainment
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Pentagon’s largest defense contractor, Lockheed Martin Corp. (LMT - Free Report) , has clinched a modification contract to incorporate an unpriced change order for acceleration and stabilization/restoration of supply rate for F-22 sustainment.
Details of the Deal
Valued at $70 million, the contract has been awarded by the Air Force Life Cycle Management Center, Hill Air Force Base, UT.
Lockheed Martin will utilize fiscal 2017 operations and maintenance funds to complete the work by Dec 31, 2019. Work related to the modification deal will be carried out in Fort Worth, TX.
A Brief Note on F-22
Lockheed Martin’s F-22 Raptor is the fifth-generation, single-seat, twin-engine, all-weather stealth tactical fighter aircraft with a unique combination of stealth, speed, agility and situational awareness along with lethal long-range air-to-air and air-to-ground weaponry.
However, high development costs, ban on exports and development of the more versatile F-35 aircraft led to the discontinuation of F-22 production.
What's Favoring Lockheed Martin?
Of late, there has been a rapid increase in terrorist activities across the globe. With radical institutions having an easy access to weapons and North Korea consistently sending missile threats to the continental regions of the United States, America is left with little choice but to consistently develop its own tactical weaponries base.
Markedly, being the Pentagon’s prime defense contractor, Lockheed Martin enjoys a lion’s share of the aerospace-defense industry in the United States. Also, the recent budgetary amendments in the country have favoured defense giants like Lockheed Martin, General Dynamics Corp (GD - Free Report) , Northrop Grumman Corp. (NOC - Free Report) and The Boeing Company (BA - Free Report) among others.
Recently, the U.S. Senate Armed Services Committee approved fiscal 2018 defense policy bill as well. The National Defense Authorization Act for fiscal 2018,worth $700 billion, include funding for various defense programs. These factors are expected to rake in more orders for these defense majors in the long run.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Lockheed Martin (LMT) Wins $70M Deal for F-22 Sustainment
Pentagon’s largest defense contractor, Lockheed Martin Corp. (LMT - Free Report) , has clinched a modification contract to incorporate an unpriced change order for acceleration and stabilization/restoration of supply rate for F-22 sustainment.
Details of the Deal
Valued at $70 million, the contract has been awarded by the Air Force Life Cycle Management Center, Hill Air Force Base, UT.
Lockheed Martin will utilize fiscal 2017 operations and maintenance funds to complete the work by Dec 31, 2019. Work related to the modification deal will be carried out in Fort Worth, TX.
A Brief Note on F-22
Lockheed Martin’s F-22 Raptor is the fifth-generation, single-seat, twin-engine, all-weather stealth tactical fighter aircraft with a unique combination of stealth, speed, agility and situational awareness along with lethal long-range air-to-air and air-to-ground weaponry.
However, high development costs, ban on exports and development of the more versatile F-35 aircraft led to the discontinuation of F-22 production.
What's Favoring Lockheed Martin?
Of late, there has been a rapid increase in terrorist activities across the globe. With radical institutions having an easy access to weapons and North Korea consistently sending missile threats to the continental regions of the United States, America is left with little choice but to consistently develop its own tactical weaponries base.
Markedly, being the Pentagon’s prime defense contractor, Lockheed Martin enjoys a lion’s share of the aerospace-defense industry in the United States. Also, the recent budgetary amendments in the country have favoured defense giants like Lockheed Martin, General Dynamics Corp (GD - Free Report) , Northrop Grumman Corp. (NOC - Free Report) and The Boeing Company (BA - Free Report) among others.
Recently, the U.S. Senate Armed Services Committee approved fiscal 2018 defense policy bill as well. The National Defense Authorization Act for fiscal 2018,worth $700 billion, include funding for various defense programs. These factors are expected to rake in more orders for these defense majors in the long run.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>