Lockheed Martin secures $37.9 million in defense contract awards

Investing.com -- Lockheed Martin (NYSE: LMT) has been awarded two defense contracts totaling approximately $37.9 million for radar systems and torpedo maintenance services.

The U.S. Department of War granted Lockheed Martin Rotary and Mission Systems an $18.8 million modification to a previously awarded contract for three-dimensional expeditionary long-range radar. The modification covers the production of one radar system and associated production management.

This adjustment increases the total contract value to $572.9 million from $554.1 million. Work will be performed at the company's Liverpool, New York facility with completion expected by December 15, 2027. The Air Force Life Cycle Management Center at Hanscom Air Force Base in Massachusetts is overseeing the contract.

In a separate award, Lockheed Martin's Rotary and Mission Systems division received a $19.1 million cost-plus-incentive-fee modification to provide engineering and maintenance services for MK48 heavyweight torpedo efforts. This work will be conducted at the Intermediate Maintenance Activity in Pearl Harbor, Hawaii, with completion anticipated by February 2027.

The Naval Sea Systems Command in Washington, D.C. is managing this contract, with $3.7 million in fiscal 2026 operations and maintenance funds obligated at the time of award.

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