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Lockheed Martin Corporation (NYSE:LMT) and Tata Advanced Systems Limited have signed a teaming agreement to strengthen their partnership through the C-130J Super Hercules tactical airlifter.
This move boosts India’s defense and aerospace capabilities while deepening India-U.S. strategic relations.
This agreement outlines plans to establish an MRO facility in India to support the Indian Air Force’s 12 C-130Js and other global Super Hercules fleets.
It also includes expanding C-130J manufacturing and assembly in India for the Indian Air Force’s (IAF) Medium Transport Aircraft (MTA) program, pending U.S. and Indian government approvals.
Lockheed Martin will maintain C-130J production for the U.S. government and global operators at its existing Marietta, Georgia facility.
The additional production and assembly capacity will be established in India if Lockheed Martin is awarded the MTA contract.
The IAF is seeking up to 80 medium transport aircraft and issued an RFI last year. Lockheed Martin responded with the C-130J-30 Super Hercules, which it believes fits the requirements.
Sukaran Singh, chief executive officer and managing director of Tata Advanced Systems, said, “The current announcement is also significant as it marks the entry of Tata Advanced Systems into the defence MRO space in India for large aircraft platforms. This also helps towards a deeper relationship between the two companies, adding to the aerostructure work by Tata Advanced Systems for Lockheed Martin platforms.”
Rod McLean, vice president and general manager of the Air Mobility and Maritime Missions line of business at Lockheed Martin, said, “The C-130J is known as the world’s workhorse, not just for its large global presence, but also for its international supply chain partners including the single source provider of empennages — Tata Lockheed Martin Aerostructures Limited in Hyderabad.”
“This teaming agreement between Lockheed Martin and Tata Advanced Systems further demonstrates Lockheed Martin’s commitment to a self-reliant India and the degree of confidence that exists in our relationships with our partners in India and the Indian industry at large.”
In August, Lockheed resumed deliveries of the F-35 jets to the U.S. military after a months-long pause, but the U.S. government is withholding the final $5 million payment per jet until a long-delayed technology upgrade, known as Technology Refresh 3 (TR-3), is fully implemented.
Investors can gain exposure to the stock via Global X Funds Global X Defense Tech ETF (NYSE:SHLD) and First Trust Exchange-Traded Fund First Trust Indxx Aerospace & Defense ETF (NYSE:MISL).
Price Action: LMT shares are down 0.19% at $575.49 at the last check Tuesday.
Image via Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
