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U.S. Navy Awards Lockheed Martin $383 Million for Next Generation of U.S. Deterrence at Sea

1. Lockheed Martin received a $383 million contract modification from the U.S. Navy. 2. The contract supports development of the Trident II D5 missile modernization. 3. A new 225,000 sq. ft. facility in Florida will create 300 jobs. 4. Modernized missiles will serve until 2084, enhancing U.S. deterrence capabilities. 5. Lockheed's FBM program ensures national and allied security through advanced technology.

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Why Bullish?

The contract and investment indicate robust prospects for revenue growth similar to past defense contracts.

How important is it?

Significant contract and job creation could drive positive sentiment and long-term growth for LMT.

Why Long Term?

The facility and missile upgrade will sustain demand for decades, similar to historical defense contracts.

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Company will build production facility in Florida and add approximately 300 jobs to support strategic missile modernization , /PRNewswire/ -- The U.S. Navy awarded Lockheed Martin (NYSE: LMT) a $383 million cost-plus-incentive-fee and cost-plus-fixed-fee modification to the existing Lockheed Martin contract for development of the next generation of the Trident II Strategic Weapons System (SWS) D5 missile to continue the nation's sea-based strategic deterrence. Artist rendering of Trident II D5 Submarine-Launched Ballistic Missile. Photo credit: Lockheed Martin Under this contract modification, Lockheed Martin will design the upgraded missile, called the Trident II D5 Life Extension 2 (D5LE2). The integrated, modernized missile will be carried aboard COLUMBIA-class ballistic missile submarines to ensure the strategic weapon system remains credible through 2084. "The second life extension of the Trident D5 missile will enable the United States and United Kingdom, through the Polaris Sales Agreement, to maintain credibility deterring evolving threats," said Jerry Mamrol, vice president of Fleet Ballistic Missiles at Lockheed Martin. "We are proud to continue our critical partnership with the U.S. Navy to take deterrence into this new era." Advancing DeterrenceThe D5 missile, built and upgraded by Lockheed Martin for the Navy, is the most advanced ballistic missile in the world and is currently aboard U.S. OHIO-class and U.K. VANGUARD-class submarines. This year, Lockheed Martin will mark 70 years of support to the Navy developing and sustaining the missiles that are the backbone for the nation's sea-based deterrence through the company's Fleet Ballistic Missiles (FBM) program.Lockheed Martin's FBM program is critical to preserving American and allied security with a focus on innovation through advanced digital technology, modern facilities, and a culture of excellence.New Florida Facility for the FutureLockheed Martin is breaking ground on an approximately 225,000 square foot facility in Titusville, Florida to produce components for the D5LE2 submarine-launched ballistic missile.The new facility expands Lockheed Martin's presence in Florida's Space Coast and is expected to add approximately 300 highly-skilled new jobs."Under Governor Ron DeSantis' leadership, Florida continues to invest in our aerospace and aviation, and military and defense industries – bringing high-skill, high-wage jobs to the state," said Florida Secretary of Commerce J. Alex Kelly. "Strategic investments like this continue to propel Florida's workforce, adding 300 new jobs and bringing economic success to Florida communities." The facility is anticipated to be ready for operations in 2027 to meet the Navy's production needs and support the service for the next 60 years.About Lockheed MartinLockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at www.Lockheedmartin.com.SOURCE Lockheed Martin WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In Also from this source

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