Lockheed Martin Corporation (LMT) Secures Multimillion Defense Contracts Strengthening Pipeline

Lockheed Martin Corporation (NYSE:LMT) is one of the defense & aerospace stocks gaining from rising geopolitical spending. On January 22, the company secured a $9.58 million contract modification for combat systems integration and testing. The contract covers littoral combat ships and unmanned surface vessels.

Work under the contract is to be performed by Lockheed’s Rotary and Mission Systems division across multiple locations. The Navy expects the company to complete work under the contract by February 2027.

This contract follows the company’s securing two defense contracts totaling $225 million for missile systems and naval weapons support. The U.S. Department of War has granted the company a $202.8 million modification to an existing contract for work on PAC-3 missiles.  The contract covers inspection, recertification, and repair services to return the missiles to serviceable condition.

The company’s Lockheed Martin Rotary and Mission Systems unit has also received a $22.2 million cost-plus-fixed-fee contract. The contract covers lifecycle logistics, engineering, and technical services for in-service and post-production Aegis systems on various vessels.

Lockheed Martin Corporation (NYSE:LMT) is a global aerospace, defense, security, and technology company, primarily focused on researching, designing, developing, manufacturing, and sustaining advanced technology systems.

While we acknowledge the potential of LMT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: Top 10 Materials Stocks to Buy According to Analysts and 10 Best Organic Food and Farming Stocks to Buy Now.

Disclosure: None. This article is originally published at Insider Monkey.