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Lockheed Martin Corporation (NYSE:LMT) received a contract worth $4.10 billion from the Missile Defense Agency.
Aiming to enhance global interoperability, this contract will accelerate innovation and continue leading the development of the Command and Control, Battle Management and Communications (C2BMC) system, Lockheed Martin said in a press release.
According to Benzinga Pro, LMT stock has lost over 7% in the past year. Investors can gain exposure to the stock via IShares U.S. Aerospace & Defense ETF (BATS:ITA) and First Trust Exchange-Traded Fund First Trust Indxx Aerospace & Defense ETF (NYSE:MISL).
The latest contract’s ordering period is from May 1, 2024, through April 30, 2029, with an option to extend through April 30, 2034.
Under the new C2BMC-Next scope, the system will be upgraded with the latest 21st Century Security technology for faster, multi-domain coordinated responses to emerging threats.
The Lockheed Martin team will primarily perform this work out of a new Huntsville, Alabama facility and Colorado Springs, Colorado locations.
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“With C2BMC’s already well-established lines of reliable communication – operating 24/7, 365 days a year in more than 30 locations across the world – the ability to securely collaborate with other countries, across multiple domains, from any location in near real-time will be a game changer for the defense industry,” said Erika Marshall, Lockheed Martin C4ISR Vice President.
Price Action: LMT shares are trading higher by 0.42% premarket to $454.22 on the last check Friday.
Photo via Shutterstock
