Lockheed Martin (LMT) secures $3 billion Aegis missile defense contract

Investing.com -- Lockheed Martin (NYSE: LMT) has been awarded a 10-year contract worth nearly $3 billion to continue work on the Aegis Ballistic Missile Defense system, according to the U.S. Department of Defense.

The contract, valued at $2,968,000,000, was awarded to Lockheed Martin Rotary and Mission Systems (LM RMS) in Moorestown, New Jersey. Under this sole-source, indefinite-delivery/indefinite-quantity agreement, the company will serve as the Combat Systems Engineering Agent for the Aegis Ballistic Missile Defense system.

The work will maintain operational relevancy of the Missile Defense System and cover design, development, integration, and sustainment for Aegis cruisers, guided-missile destroyers, Aegis ashore variants, Aegis Guam System, and Glide Phase Intercept.

The contract period runs from July 2025 to June 2035, with work being performed in Moorestown, New Jersey. The Missile Defense Agency in Dahlgren, Virginia, is overseeing the contract.

In addition, Lockheed Martin received a separate contract modification worth $41,213,885 that extends the current Aegis BMD Weapon Systems contract through June 2026. This modification increases the total contract value from $1,419,229,004 to $1,460,442,889.

The company was also awarded a $92,188,802 modification for in-service AEGIS sustainment, capability package development, and system integration. This work is expected to be completed by December 2025.

Furthermore, Lockheed Martin Missiles and Fire Control in Grand Prairie, Texas, received a $42,004,339 modification for missile support center logistics support, with an estimated completion date of May 25, 2026.

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