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Investing.com -- Lockheed Martin has been awarded multiple defense contracts worth more than $4.2 billion, significantly expanding its work on critical military systems.
The largest award is a $4,234,948,956 modification to an existing contract for production of the Guided Multiple Launch Rocket System, according to the U.S. Department of Defense. This modification brings the total contract value to $13,265,440,935, with work expected to be completed by October 20, 2027. The contract was awarded to Lockheed’s Grand Prairie, Texas facility following an internet solicitation that received one bid.
In addition, Lockheed Martin Rotary and Mission Systems in Syracuse, New York received an $8,044,741 cost-plus-incentive-fee modification for engineering support of submarine electronic warfare systems. This work covers both new construction and in-service submarines and is scheduled for completion by February 2026.
The company also secured an $18,302,843 modification for the Terminal High Altitude Area Defense (THAAD) system, increasing the total contract value from $10,416,801,794 to $10,435,104,636. This work involves interceptor component obsolescence support and will be performed in Sunnyvale, California and Troy, Alabama, with completion expected by August 18, 2028.
The THAAD contract includes both cost-plus-fixed-fee and firm-fixed-price components. Funding comes from fiscal years 2023, 2024, and 2025 procurement funds.
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