Today, 8:26 AM
- The U.S. Air Force has formally kicked off a competition for the development of a new prototype rocket propulsion system in order to end U.S. reliance on Russian engines used in current military satellites launches.
- The program will require bidders to use their own funds to cover a third of the cost of the prototypes. Initial proposals are due by June 23.
- United Launch Alliance, a joint venture of Lockheed Martin (NYSE:LMT) and Boeing (NYSE:BA), is expected to compete against SpaceX, which was certified last week to compete for military and spy satellite launches.
- Other companies, including Aerojet Rocketdyne (NYSE:AJRD), are also studying their options.
Yesterday, 8:43 AM
- Marking another milestone for the new fighter jet, Lockheed Martin's (NYSE:LMT) F-35 will play a major role in a large exercise this week called "Green Flag West", which will include about 5,000 U.S. military personnel working together to fight a "near peer" enemy.
- "This is the first time that the F-35 will be the primary player in this exercise," Air Force Lieutenant Colonel Cameron Dadgar told Reuters.
- One or two F-35 A-model jets will participate in the exercises each day, along with F-16 fighter planes, A-10 gunships and other weapons.
Wed, May 27, 3:42 PM
- Lockheed Martin (LMT +0.4%) CEO Marillyn Hewson says the company is open to making large deals but declines to comment specifically on whether it is interested in buying all or part of United Technologies' (UTX +0.8%) Sikorsky Aircraft.
- “We have great debt capacity,” the CEO says, adding that the company remains committed to returning most of its free cash to shareholders over the next three years.
- LMT, Boeing (NYSE:BA) and Airbus (OTCPK:EADSF, OTCPK:EADSY) are among the companies said to be exploring bids for Sikorsky or perhaps for a minority stake; LMT already is a partner with Sikorsky on programs including a planned new rescue helicopter for the Air Force and the replacement for the rotorcraft used as Marine One by the U.S. president.
Wed, May 27, 3:47 AM
- SpaceX has won a critical battle in its campaign to win business launching military and spy satellites after the U.S. Air Force certified its Falcon 9 rocket to handle the work.
- The decision throws pressure on United Launch Alliance, a joint venture of Boeing (NYSE:BA) and Lockheed Martin (NYSE:LMT), which has held a monopoly on national security launches since it was formed in 2006.
- Previously: ULA needs more orders to survive (May. 22 2015)
Fri, May 22, 7:11 AM
- United Launch Alliance, the 50-50 joint venture between Lockheed Martin (NYSE:LMT) and Boeing (NYSE:BA), said it would go out of business unless it won commercial and civil satellite launch orders to offset an expected slump in U.S. military and spy launches.
- ULA has long been the sole company able to launch U.S. military and intelligence satellites into orbit, but will face competition when the Air Force certifies SpaceX to bid on some of those launches. That approval is expected next month.
- The venture is also under pressure from a federal ban on the use of Russian RD-180 rocket engines (effective after 2019) that power its Atlas 5 rockets.
- Related: Engine doubts could risk ULA's new rocket (Apr. 16 2015)
Wed, May 20, 11:06 AM
- Due to issues with the Airbus (OTCPK:EADSY +0.5%) A400M, France's defense ministry has penciled several hundreds of millions of euros into its latest defense budget for the possible purchase of four Lockheed Martin (LMT) C130 Hercules military transport planes.
- The decision on whether to actually make the purchase will be made before the end of this year, a source told Reuters.
- Previously: Airbus orders checks on A400M (May. 19 2015)
- Previously: Spain orders halt to some Airbus A400M flights after fatal crash (May. 12 2015)
Tue, May 19, 6:51 PM
- United Technologies (NYSE:UTX) is talking to potential buyers for its Sikorsky Aircraft business, WSJ reports, raising the prospect that a spinoff could turn into a sale.
- Boeing (NYSE:BA), Airbus (OTCPK:EADSF, OTCPK:EADSY) and Lockheed Martin (NYSE:LMT) reportedly are among the companies exploring bids or a potential minority stake in the helicopter maker.
- Analysts estimate Sikorsky could fetch ~$10B in a full sale.
Mon, May 18, 6:15 PM
- Lockheed Martin (NYSE:LMT) says it is working to resolve "relatively minor" problems with a portable version of the F-35 fighter jet's automated logistics system, but the hitches should not impede a Marine Corps milestone this summer.
- The LMT exec in charge of the ALIS logistics system tells Reuters the company is working with the Pentagon to fix the software that runs the new version of ALIS, and that the system remains on track to be deployed in late June or early July.
- LMT is attempting to complete a smaller, lighter version of the F-35's complex logistics system ahead of July, when the Marine Corps plans to declare an initial squadron of 10 F-35s ready for combat use.
Wed, May 13, 10:25 AM| 1 Comment
Tue, May 12, 3:55 PM
- A federal judge reportedly has dismissed a lawsuit filed by Raytheon (NYSE:RTN) to block the U.S. Air Force from revisiting a contract for a long-range radar that was won by RTN and was challenged by rivals Lockheed Martin (NYSE:LMT) and Northrop Grumman (NYSE:NOC).
- RTN is said to have 60 days to appeal the decision by a judge with the U.S. Court of Federal Claims.
- The court's move will allow the Air Force to proceed with a re-evaluation of proposals submitted by all three bidders and potentially reopen the competition.
Tue, May 12, 3:26 PM
- Boeing (BA -0.1%) is not planning big changes in its defense and space business or a major deal if it fails to win a share of upcoming Pentagon weapons contracts potentially worth more than $100B, CEO Jim McNerney tells investors.
- The competition to win deals to build new long-range bombers and jet trainers for the U.S. Air Force, as well as large drones for the Navy, to replace declining sales of fighter jets is viewed by analysts as a must-win for Boeing and its partners in the contest, Lockheed Martin (NYSE:LMT) and Saab (OTC:SAABF); a contract award is expected this summer.
- Wes Bush, McNerney's counterpart at Northrop (NYSE:NOC), also has rejected suggestions that the bomber contest could prompt another round of industry consolidation.
- PDF: Investor presentation
- Earlier: Highlights from Boeing's annual investor conference
Mon, Apr. 27, 3:38 PM
- F-35 engines from United Technologies (UTX -0.3%) are proving so unreliable that U.S. plans to increase production of the fighter jet may be slowed, congressional auditors say.
- Data from flight tests evaluated by the GAO show the reliability of engines from UTX’s Pratt & Whitney unit is "very poor (less than half of what it should be) and has limited” progress for the F-35, the agency said in a report sent to lawmakers this month.
- According to GAO officials, engines on the Marine Corps’ complex version of the F-35, designed for short takeoffs and vertical landings, flew ~47 hours between failures caused by engine design issues instead of the 90 hours planned for this point, while Air Force and Navy model engines flew ~25 hours between failures instead of the 120 hours planned.
- Bennett Croswell, president of Pratt & Whitney Military Engines, says the company was surprised by the report's unusually stern language but that "the engine is reliable."
- The U.S. military plans to spend $391B for a fleet of 2,443 planes from prime contractor Lockheed Martin (LMT -0.8%).
Mon, Apr. 27, 10:01 AM
- Lockheed Martin (LMT +0.5%) has announced recent training solutions contracts from the U.S. Air Force valued at more than $80M.
- The contracts include the following: C-130J AMC weapon systems trainer and C-130J AMC loadmaster; KC-130J weapons systems trainer; C-130 aircrew training system and C-130J Training System Support Center services.
Thu, Apr. 23, 7:35 AM
Tue, Apr. 21, 8:12 AM
- Lockheed Martin (NYSE:LMT) reports Q1 net profit of $878M, or $2.74 per share vs. $933M, or $2.87 per share a year ago.
- Sales in Lockheed's aeronautics business dropped 7.4% to $3.13B, while its information systems and missiles and fire control units also fell due to weak U.S. defense spending and fewer jet deliveries.
- The company raised its 2015 earnings forecast to $10.85-$11.15 per share from $10.80-$11.10, and reiterated its revenue forecast of $43.5B-$45B.
- LMT +0.7% premarket
- Q1 results
Tue, Apr. 21, 7:26 AM
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Lockheed Martin Corp is a security and aerospace company. The Company isengaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
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