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Lockheed Martin Wins $376M Deal to Support MH-60R Aircraft
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Lockheed Martin Corp. (LMT - Free Report) recently secured a $375.5 million modification contract to design and develop unique hardware and software for the Multi-Role Helicopter MH-60R development program. The deal, intended for government of India, has been awarded by the Naval Air Systems Command, Patuxent River, MD.
The contract is scheduled to be completed by June 2025. The majority of work related to this deal will be executed in Owego, NY.
A Brief Note on MH-60R Aircraft
The MH-60R Seahawk helicopter, also known as the Seahawk Multi-mission Naval Helicopter, is the world’s most advanced maritime helicopter designed to operate from frigates, destroyers, cruisers and aircraft carriers. The MH-60R is equipped for a range of missions, including anti-submarine warfare, anti-surface warfare, search-and-rescue, naval gunfire support, surveillance, logistics support, personnel transfer and vertical replenishment. Currently, it is operational and deployed with the U.S. Navy as the primary anti-submarine warfare and anti-surface weapon system for Open Ocean and littoral zones.
Our View
In recent times, the importance of military helicopters in the U.S. aerospace-defense market has increased due to advancements and integration of new tactical and logistical features along with the inclusion of improved radar systems and the availability of advanced system engineering services. Lockheed Martin, being a prominent helicopter manufacturer, has been reaping the benefits of the increase in demand for combat helicopters.
Looking ahead, the global attack helicopter market is estimated to witness a CAGR of more than 4% during the 2020-2025 period, with North America constituting the largest share of this market, per the latest forecast made by market research firm, Mordor Intelligence. This indicates solid growth opportunities for Lockheed Martin.
A few other prominent players in the aforementioned market like Boeing (BA - Free Report) and Textron (TXT - Free Report) are also expected to benefit from the growth opportunities.
Price Movement
Lockheed Martin’s stock has gained 9.7% in the past year against the industry’s decline of 21.7%.
Zacks Rank & Stock to Consider
Lockheed Martin currently carries a Zacks Rank #3 (Hold).
CAE pulled off a positive average earnings surprise of 3.48% in the trailing four quarters. The company’s long-term earnings growth is estimated to be 8%.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.1% per year.
These 7 were selected because of their superior potential for immediate breakout.
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Lockheed Martin Wins $376M Deal to Support MH-60R Aircraft
Lockheed Martin Corp. (LMT - Free Report) recently secured a $375.5 million modification contract to design and develop unique hardware and software for the Multi-Role Helicopter MH-60R development program. The deal, intended for government of India, has been awarded by the Naval Air Systems Command, Patuxent River, MD.
The contract is scheduled to be completed by June 2025. The majority of work related to this deal will be executed in Owego, NY.
A Brief Note on MH-60R Aircraft
The MH-60R Seahawk helicopter, also known as the Seahawk Multi-mission Naval Helicopter, is the world’s most advanced maritime helicopter designed to operate from frigates, destroyers, cruisers and aircraft carriers. The MH-60R is equipped for a range of missions, including anti-submarine warfare, anti-surface warfare, search-and-rescue, naval gunfire support, surveillance, logistics support, personnel transfer and vertical replenishment. Currently, it is operational and deployed with the U.S. Navy as the primary anti-submarine warfare and anti-surface weapon system for Open Ocean and littoral zones.
Our View
In recent times, the importance of military helicopters in the U.S. aerospace-defense market has increased due to advancements and integration of new tactical and logistical features along with the inclusion of improved radar systems and the availability of advanced system engineering services. Lockheed Martin, being a prominent helicopter manufacturer, has been reaping the benefits of the increase in demand for combat helicopters.
Looking ahead, the global attack helicopter market is estimated to witness a CAGR of more than 4% during the 2020-2025 period, with North America constituting the largest share of this market, per the latest forecast made by market research firm, Mordor Intelligence. This indicates solid growth opportunities for Lockheed Martin.
A few other prominent players in the aforementioned market like Boeing (BA - Free Report) and Textron (TXT - Free Report) are also expected to benefit from the growth opportunities.
Price Movement
Lockheed Martin’s stock has gained 9.7% in the past year against the industry’s decline of 21.7%.
Zacks Rank & Stock to Consider
Lockheed Martin currently carries a Zacks Rank #3 (Hold).
A better-ranked stock in the same sector is CAE Inc. (CAE - Free Report) , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
CAE pulled off a positive average earnings surprise of 3.48% in the trailing four quarters. The company’s long-term earnings growth is estimated to be 8%.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.1% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>