Lockheed Martin Secures $23B in Contracts, Ensuring Work Until 2034
Lockheed Martin has secured a massive contract worth over $23 billion in a single day, ensuring work for the company until 2034. The contracts were announced just as the U.S. government shutdown began, potentially causing uncertainty about payments and approvals.
The largest contract, valued at $12.5 billion, covers the production of 296 F-35 combat jets for lots 18 and 19. These jets are destined for U.S. military forces and international partners in the F-35 program, securing work for Lockheed Martin until August 2028.
In addition, Lockheed Martin's Sikorsky division received a $10.9 billion contract for up to 99 heavy CH-53K King Stallion helicopters. Deliveries are set to begin in 2029 and continue until 2034.
Meanwhile, Lockheed Martin's Skunk Works division unveiled the 'Vectis', an advanced stealth combat drone designed for the growing market of autonomous combat systems.
With these contracts, Lockheed Martin's future work is secured for several years. However, the U.S. government shutdown may cause uncertainty about payments and project approvals. The company awaits clarity on these matters.
