Tag: LMT (Page 1 of 3)

Lockheed Martin delivers 75th APY-9 radar for E-2D Advanced Hawkeye

January 29, 2024 / WIL BALDWIN

Syracuse, New York, January 29, 2024 – Lockheed Martin Corporation (NYSE: LMT), under contract to Northrop Grumman for the U.S. Navy’s E-2D Advanced Hawkeye, has delivered the 75^th APY-9 radar that provides the U.S. Navy with information dominance through revolutionary sensor capability. More Hawkeyes have been built and delivered than any other AEW platform in the world.

The newest Advanced Hawkeye variant is at the forefront of technological capability, due in large part to Lockheed Martin’s APY-9 radar. The Northrop Grumman-built E-2 has come to be known as the U.S. Navy’s “eyes of the fleet” because of its ability to simultaneously watch over air, land and sea. Any time a Navy carrier has aircraft airborne, there is an APY-9 radar at work, guarding the United States and its allies.

On Time and On Task

The U.S. Navy has funded 80 out of 86 aircraft in the current program of record. Japan has purchased 18 E-2D Hawkeyes and France has purchased three. With U.S. and international demand, the APY-9 is expected to be in production into the late 2020’s, and in modernization and sustainment well into the 2040’s.

Click the link below to read the full press release!

Lockheed Martin APY-9 Radar

Forward-Looking Statements

This press release may contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

Lockheed Martin Photography By Garry Tice 1011 Lockheed Way, Palmdale, Ca. 93599 Event: X-59 - Glamour Shoot Day Date: 12/12/2023 Additional Info:

Skunk Works® Rolls Out X-59, NASA’s Newest X-Plane

January 12, 2024 / WIL BALDWIN

Palmdale, California, January 12, 2024, PRNewswire – Lockheed Martin Skunk Works^® (NYSE: LMT) rolled out the X-59, a unique experimental aircraft designed to quiet the sonic boom, at a ceremony in Palmdale, California. The ceremony marked a significant milestone in Lockheed Martin’s and NASA’s decades-long journey to solve one of the most persistent challenges of supersonic flight, the sonic boom.

Rollout ceremonies are a long-standing aviation tradition, and in the case of the X-59, it celebrated technical advancements, collaboration and innovation that stemmed from years of research, development and production of a one-of-a-kind technology demonstrator aircraft that will reduce the loudness of sonic booms to a gentle thump.

Next, the aircraft will complete ground tests including engine-run and taxi tests before its next major milestone, first flight, later this year. After the aircraft is validated in initial flight tests, it will move into the acoustic testing phase. This phase will include flights over populated areas to provide U.S. and international regulators with statistically valid data required to help approve new rules that could allow quiet commercial supersonic flight over land. This would cut commercial flight times to half of what they are today, transforming travel for people around the world.

Forward-Looking Statements

U.S. and Switzerland sign agreement for PAC-3 MSE missiles

November 2, 2023 / WIL BALDWIN

Bern, Switzerland, Oct. 31, 2023 – United States and Switzerland officials formalized an agreement for Switzerland to purchase Lockheed Martin’s (NYSE: LMT) Patriot Advanced Capability-3 (PAC-3) Missile Segment Enhancement (MSE) missiles and related support equipment. With this agreement, Switzerland becomes PAC-3’s 15th partner nation.

PAC-3 MSE will bolster Switzerland’s Patriot ground-based air defense system as a part of the Switzerland Air Force’s Air2030 program.

Lockheed Martin and armasuisse also finalized the Offset Agreement supporting the PAC-3 MSE program. This agreement is the catalyst for multiple new projects that will support Switzerland’s security-relevant technology and industry base (STIB).

The PAC-3 MSE expands the battlespace with a dual-pulse solid rocket motor, providing increased performance in altitude and range. PAC-3 MSE is a high-velocity interceptor that defends against incoming threats, including tactical ballistic missiles, cruise missiles, advanced threats and aircraft. The PAC-3 MSE missile uses Hit-to-Kill technology, intercepting threats through kinetic energy via body-to-body contact.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

Norway adds Sikorsky MH-60R helicopters for critical maritime missions

October 27, 2023 / WIL BALDWIN

Owego, New York, October 26, 2023 – The U.S. Navy awarded Lockheed Martin Corporation (NYSE: LMT) a contract to produce six multi-mission MH-60R Seahawk® helicopters for the Norwegian government. Designed and built by Sikorsky, a Lockheed Martin company, MH-60R aircraft will enable Norway to perform multiple maritime missions, including search and rescue and coastal and offshore patrol.

Depend on the SEAHAWK

Norway and other nations can depend on the SEAHAWK aircraft for:

high reliability
advanced mission systems and sensors
low flight hour costs, and
low maintenance and sustainment costs.

Norway’s order marks the second MH-60R contract award in less than a month. On Oct. 12, the U.S. Navy awarded Lockheed Martin a contract for eight Spanish Navy MH-60R aircraft.

Sikorsky has delivered 330 MH-60R aircraft to five countries. Sixty-four more are on order or in production for India, Greece, South Korea, Australia, Spain and Norway.

Lockheed Martin unveils Slovakia’s first F-16 block 70 aircraft

September 10, 2023 / WIL BALDWIN

Greenville, South Carolina, September 7, 2023 – The first F-16 Block 70 aircraft for the Slovak Republic was unveiled at Lockheed Martin’s (NYSE: LMT) facility in Greenville, South Carolina, during a visit from the country’s Minister of Defence, Martin Sklenar.

The Slovak Republic will be the first European country to receive this newest and most capable version of the Fighting Falcon. The F-16 Block 70 aircraft will deliver decades of 21st Century Security capabilities in support of the Slovak Republic’s national security.

This F-16 Block 70 jet is the first of 14 to be delivered to the Slovak Republic.

Lockheed Martin wins $765M deal for missile shield over Australia

August 29, 2023 / WIL BALDWIN

Canberra, Australia, August 29, 2023 – Lockheed Martin (NYSE: LMT) welcomed today’s announcement by the Department of Defense on being selected as the strategic partner to steward AIR6500 Phase 1 (AIR6500-1).

AIR6500-1 will provide the Australian Defence Force (ADF) with a Joint Air Battle Management System (JABMS) that will form the ground-breaking architecture at the core of the ADF’s future Integrated Air and Missile Defence (IAMD) capability. This first-of-its-kind system will provide greater situational awareness and defence against increasingly advanced air and missile threats, as well as give the ADF increased levels of interoperability with the United States and allied partners.

Since 2015, Lockheed Martin Australia has been highly dedicated to supporting ADF’s vision to transform into a fully integrated and IAMD capable force through AIR6500-1.

Lockheed Martin Australia has advanced a sovereign AIR6500-1 system solution that has been built from the ground up in Australia by Australians to safeguard Australia’s national security. To-date, Lockheed Martin Australia has:

Validated more than 130 Australian small to medium enterprises as potential partners.
Awarded contracts to more than 10 leading-edge companies such as Leidos Australia, Consunet, Consilium, C4I, Silentium, Penten, Lucid Consulting Engineering, and engaged with prime contractors, Raytheon and Boeing, during the risk reduction phase to develop an agile, integrated AIR6500 solution.
Committed AUD$74M to establish the nation’s future IAMD ecosystem to accelerate collaboration between academia, industry, Defence, and allied partners on IAMD capabilities. The IAMD ecosystem is expected to create more than 400 direct and 1,000 indirect local jobs.
Invested over AUD$100M into AIR6500.
Grown its sovereign workforce to over 200 Australian staff now dedicated to AIR6500.
Invested over AUD$10M to upgrade its Endeavour Centre to engage, explore, test, design and problem solve together with the ADF and industry through innovation, war gaming, exercises and more.

Artist's notional depiction of NGI in flight. Credit: Lockheed Martin.

Lockheed Martin Next Generation Interceptor Completes All Design Reviews At Accelerated Pace

August 7, 2023 / WIL BALDWIN

Huntsville, Alabama, August 7, 2023 (PRNewswire) – Lockheed Martin (NYSE: LMT) successfully validated designs for all elements of the nation’s Next Generation Interceptor (NGI) with the U.S. Missile Defense Agency (MDA).

Through a series of successful and on-schedule Preliminary Design Reviews (PDRs) of all NGI major subsystems, the company demonstrated it has achieved design maturity and reduced risk for critical technologies. NGI is the future of the MDA’s Ground-Based Missile Defense (GMD) system to protect the U.S. homeland against intercontinental ballistic missile threats from rogue nations.

Lockheed Martin is demonstrating engineering work that has been performed in the integrated digital tool chain to drive faster decision making, enhance security, and enable rapid delivery and agility. This approach emphasizes affordability across the program lifecycle. Lockheed Martin’s NGI solution will increase warfighter capability, providing an improved defensive solution to address the complex battlespace now and in the future.

Lockheed Martin’s NGI program is on track for its next major review, the All Up Round PDR. During this next major review, MDA will assess if the program is ready to move forward in the acquisition process through Knowledge Point number one and ultimately on to the Critical Design Review. The first Lockheed Martin NGI is forecast for delivery to the warfighter as early as FY2027.

For additional information, visit our website: www.lockheedmartin.com.

Lockheed Martin Reports Second Quarter 2023 Financial Results

July 19, 2023 / WIL BALDWIN

BETHESDA, Maryland, July 18, 2023 /PRNewswire/ – Lockheed Martin Corporation [NYSE: LMT] today reported second quarter 2023 net sales of $16.7 billion, compared to $15.4 billion in the second quarter of 2022. Net earnings in the second quarter of 2023 were $1.7 billion, or $6.63 per share, compared to $309 million, or $1.16 per share, in the second quarter of 2022. Cash from operations was $1.1 billion in the second quarter of 2023, compared to $1.3 billion in the second quarter of 2022. Free cash flow was $771 million in the second quarter of 2023, compared to $1.0 billion in the second quarter of 2022.

Click the link below to read the entire press release!

Lockheed-Martin-Reports-Second-Quarter-2023-Financial-Results

Pentagon and Lockheed Martin Agree To F-35 Sustainment Contracts

September 16, 2021 / WIL BALDWIN

FORT WORTH, Texas, Sept. 13, 2021 /PRNewswire/ — The F-35 Joint Program Office awarded the Lockheed Martin (NYSE: LMT) industry team annualized contracts covering fiscal years 2021-2023 to support operations and sustainment of the global F-35 fleet, supporting mission readiness and further reducing costs.

The annual contracts fund critical sustainment activities for aircraft currently in the fleet and build enterprise capacity to support the future fleet of more than 3,000 F-35 aircraft. This includes industry sustainment experts supporting base and depot maintenance, pilot and maintainer training, and sustaining engineering for the U.S. and our allies across the globe. It also covers fleet-wide data analytics and supply chain management for part repair and replenishment to enhance overall supply availability for the fleet.

The FY2021-2023 contracts represent a planned next step in further reducing overall operations and support costs for the F-35 program, which are shared between government and industry. Lockheed Martin has reduced our cost per flight hour by 44% in the past five years, with a forecasted reduction of an additional 40% in the next five years. The cost savings in the FY21-23 annualized sustainment contracts support Lockheed Martin’s efforts to realize these goals. The savings will be achieved through improved cost and velocity in our supply chain, continued reliability improvements, and greater manpower efficiencies to provide product support solutions across the growing, global fleet. We remain committed to partnering with our customers and teammates to drive F-35 sustainment costs down.

The contracts also pave the way for a longer-term, Performance Based Logistics (PBL) agreement for the F-35 program. PBLs are an industry best practice, facilitating agile sustainment solutions for the fleet and incentivizing even further affordability and performance results.

The F-35 Joint Program Office, together with each U.S. service, international operators and the F-35 industry team, leads F-35 sustainment and the Global Support Solution. The 2021 annualized sustainment contract will cover industry sustainment activities through Dec. 31, 2021.

Lockheed Martin Awarded 5-Year Contract to Support Indian Air Force C-130J Super Hercules Airlifter Fleet

August 24, 2021 / WIL BALDWIN

NEW DELHI, Aug. 24, 2021 — Lockheed Martin (NYSE: LMT) has been awarded a $328.8 million, five-year contract from the Indian Air Force (IAF), to provide dedicated and comprehensive support for the IAF’s fleet of 12 C-130J-30 Super Hercules Aircraft. Lockheed Martin is the original equipment manufacturer (OEM) of the C-130Js, which is the tactical airlifter of choice for 26 operators in 22 nations.

Through this Follow On Support II (FOS) contract, Lockheed Martin teams manage the program, logistics and engineering support elements necessary to sustain the IAF’s C-130J fleet. The contract spans a five-year-period, is a Direct Commercial Sale, and is a continuation of a prior five-year FOS I contract where Lockheed Martin provided similar support for the IAF’s C-130J fleet.

The FOS II contract includes Lockheed Martin’s sustainment efforts for the IAF’s entire Super Hercules fleet, as well as extended options including Lockheed Martin support for the C-130J airframe, Contractor Furnished Equipment (CFE), peculiar and common spareable items, engines, propellers, software, publication services, ground handling equipment (GHE), ground support equipment (GSE) and test equipment.

A total of eight employees representing Lockheed Martin, GE (propeller manufacturer) and Rolls-Royce (engine manufacturer) serve as on-site technical support for the duration of the contract. Additionally through the FOS II contract, five C-130J Hercules aircraft will undergo 12-year servicing (depot maintenance) at a Lockheed Martin-approved Heavy Maintenance Center (HMC) beginning in 2022.

The Government of India announced its purchase of six C-130J Super Hercules airlifters via a Foreign Military Sale with the U.S. Air Force in 2008. All aircraft were delivered on or ahead of schedule between 2010 and 2011. India received additional C-130Js in 2017 and in 2019.

The IAF’s C-130J Super Hercules have a highly integrated and sophisticated configuration primarily designed to support India’s special operations requirement. The aircraft also are equipped with air-to-air receiver refueling capability for extended range operations. India’s C-130Js are also used to support a variety of critical missions, including humanitarian aid, airlift, natural disaster support, and search and rescue operations. Recently, the IAF has been extensively using its fleet of 12 Super Hercules for humanitarian efforts in the wake of the COVID-19 pandemic as well as for transportation of relief materials, equipment and personnel in the areas affected by cyclones Yaas and Tauktae.

India’s connection to the C-130J goes beyond its fleet of Super Hercules with the Tata Lockheed Martin Aerostructures Limited (TLMAL) joint venture that is the single, global source of C-130J empennage assemblies included on all new Super Hercules aircraft. Located in Hyderabad, TLMAL exemplifies the Government of India’s “Make in India” objectives and has delivered more than 120 empennages over its first 10 years of operations.

Archives