Lockheed Martin Wins $1 Billion Missile Defense Contract

(Comment on this article at http://www.financialwire.net/2009/10/27/lockheed-martin-wins-1-billion-missile-defense-contract/)

October 27, 2009 (FinancialWire) -- The U.S. Department of Defense's Missile Defense Agency awarded Lockheed Martin (NYSE: LMT) a $1 billion contract for continued development and evolution of the Aegis ballistic missile defense weapon system.

Under the contract, Lockheed Martin will design, develop, integrate, test, deliver and install further Aegis BMD capability for the U.S. and allied navies.

Currently, a total of 21 Aegis BMD-equipped warships, including 19 in the U.S. Navy and two in the Japanese Maritime Self-Defense Force, have the certified capability to engage ballistic missiles and perform long-range surveillance and tracking missions.

The U.S. Navy is modifying two additional U.S. East Coast-based Aegis-equipped ships to perform ballistic missile defense. The Aegis weapon system is a naval defense system and the sea-based element of the U.S. ballistic missile defense system.

Bethesda, Maryland-based Lockheed Martin is a security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

http://www.financialwire.net

Related terms: contract, defense, defense contracting, manufacturer, maryland, navy, nyse, products, security, technology, web