Lockheed Martin secures $720 million contract for HELLFIRE/JAGM missiles

Investing.com -- Lockheed Martin Corp. (NYSE: LMT) has been awarded a $720,120,883 modification to an existing contract for the Production Year Four of HELLFIRE/JAGM missiles, the U.S. Department of Defense announced.

The modification brings the total value of the contract to $1,493,541,465. The work will be performed in Ocala, Florida, with completion expected by September 30, 2028.

The U.S. Army Contracting Command at Redstone Arsenal, Alabama, is overseeing the contract. The funds for this award come from the fiscal 2025 missile procurement budget of the Army, with the full amount obligated at the time of the award.

This contract represents the fourth production year for the HELLFIRE and Joint Air-to-Ground Missile (JAGM) systems manufactured by the Orlando, Florida-based defense contractor.

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