Lockheed Martin Wins $15B Contract
Lockheed Martin (LMT) yesterday posted strong H1 2020 result and provided a promising guidance for the remainder of 2020. In the results, which we will analyze in a regular piece on the platform, we saw strong product portfolio and execution reflected.
For Lockheed Martin it adds to previous news of a big contract award a couple of days ago when it was awarded a $15,000,000,000 indefinite-delivery/indefinite-quantity contract for C-130J development, integration, retrofit and production activities for all C-130J variants. The contract provides flexibility to accommodate the broad enterprise of activities associated with the C-130J program.
The contract award does not mean that the company has been handed $15B in cash, but serves as a contract vehicle allowing the the US Air Force to fund procurement and support items against that $15B IDIQ contract.
The C-130J is the newest version of the Hercules, which first flew in 1996, is used for military transport as well as air-to-air refueling missions making it a highly capable aircraft. Currently the US Air Force has 132 C130J aircraft in service with another 18 on order.
The Defense Contracts Monitor shows us that the $15B ceiling for this contract is the biggest contract awarded to Lockheed Martin for the C130 program this year.
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What we did at The Aerospace Forum…
- We have loaded over 600 contracts loaded in our Defense Monitor covering Boeing contract (2018-2020) and Lockheed Martin (2020).
- We will be working on adding more Lockheed Martin contracts for previous years, which will send the contracts covered in the monitor over 1,000.
- We have had vivid discussions with subscribers on the prospects of Spirit AeroSystems.
- We updated all Boeing and Airbus models with the most recent data.
- We continue analyzing the commercial aircraft market with detailed insights.
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