Lockheed Martin Secures $1.08 Billion in New Defense Contract Awards

The U.S. Department of Defense has announced that Lockheed Martin Corp. (NYSE:LMT) has secured two defense contracts totaling $1.08 billion.

Lockheed Martin's Missiles and Fire Control unit, based in Orlando, Florida, has been awarded an $826 million modification to an existing contract for the Joint Air-to-Surface Standoff Missile and Long Range Anti-Ship Missile Large Lot procurement. The adjustment brings the overall contract value to $10.48 billion, up from $9.65 billion. The work, to be performed in Orlando, is expected to reach completion by July 31, 2030.

Funding for the modification draws on appropriations from fiscal years 2024, 2025, and 2026, allocated across missile procurement, weapons procurement, research and development, and operations and maintenance budgets. It also includes $11.1 million in Foreign Military Sales funding. The Air Force Life Cycle Management Center at Eglin Air Force Base, Florida, serves as the contracting activity.

In a separate action, Lockheed Martin’s facility in Liverpool, New York, has received a $257.3 million modification under a prior contract for the MK 48 Heavyweight Torpedo program. The scope of this modification includes production, spare parts, production support materials, engineering support, and hardware repair for the MK 48 MOD 7 Heavyweight Torpedo All Up Round.

Work on the torpedo contract is split among Liverpool, New York (57%), Clearwater, Florida (37%), and Braintree, Massachusetts (6%), with completion anticipated by September 2029. The contract covers purchases for the U.S. Navy, the Royal Australian Navy, and Foreign Military Sales program participants. Naval Sea Systems Command in Washington, D.C., is the contracting activity, with the award made on September 3, 2026.

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