Lockheed Martin Corporation
) was given a $54.4 million cost-plus-fixed-fee contract
modification for the Long Range Anti-Ship Missile (LRASM)
program. LRASM is an anti-ship missile being developed for the US
Navy. The Defense Advanced Research Projects Agency or DARPA is
the contracting activity.
As part of the LRASM demonstration program, Lockheed Martin
will conduct additional surface-launch risk-reduction work prior
to two planned flight demonstrations from a representative
vertical launching system canister. LRASM is a joint
DARPA/Office of Naval Research effort to develop and demonstrate
standoff anti-ship strike weapon technologies. Work on the
contract will be performed in Orlando, Fla., (84.13%), Baltimore,
Md. (14.24%), and Walled Lake, Mich. (1.63%). The work on
the contract is expected to be completed by Dec 31,
LRASM is designed to be compatible with the vertical launch
system used on many US Navy ships and to be fired from an
aircraft. The U.S. Navy is also upgrading its vertical launch
systems for better efficiency.
) in conjugation with the U.S. Navy is developing the MK 57
Advanced Vertical Launching System, the next-generation naval
missile launching system for future surface combatants of the
Lockheed Martin is the largest U.S. defense contractor with a
platform-centric focus and a steady inflow of follow-on orders
due to its leveraged presence in the Army, Air Force, Navy and IT
programs. However, the ongoing trend of governmental delays in
program decisions and even program cancellations have affected
the fortunes of the defense industry in general and Lockheed
Martin in particular.
Lockheed Martin finished 2012 with $82.3 billion of order
backlog, including $19.8 billion of new orders booked in the
fourth quarter. Of this $30.1 billion belonged to the Aeronautics
segment and $18.1 billion to the Space Systems segment. The rest
is made up of $14.7 billion for the Missiles and Fire Control
segment; $10.7 billion for Mission Systems and Training; and $8.7
billion for the Information Systems & Global Solutions.
Lockheed Martin is a Zacks Rank #2 (Buy) stock. The past 60
days have seen 12 of the 13 earnings estimates for full year 2013
moving up despite an industry-wide threat of budget cutbacks and
effects of sequestration.
In the aerospace and defense industry we also prefer other
Zacks Rank #2 (Buy) stocks like
The Boeing Company
FLIR Systems, Inc.
BOEING CO (BA): Free Stock Analysis Report
FLIR SYSTEMS (FLIR): Free Stock Analysis
LOCKHEED MARTIN (LMT): Free Stock Analysis
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