Summer Myatt
Lockheed Martin is the largest defense contractor in the United States, with a total of $61.4 billion in government contracts in fiscal year 2023, according to the Pentagon. In the U.S. government contracting industry, Lockheed Martin is at the forefront of technological advancement and defense innovation.
Here’s a look at just a few of the most significant Lockheed Martin contracts in 2024:
Lockheed’s U.S. Navy Contracts
Trident II D5 Missile Program
Lockheed Martin booked two U.S. Navy contracts worth approximately $3.3 billion combined to support work on the service’s Trident II D5 missile program. The first award, valued at $2.1 billion, covers the production and deployed systems support of the Trident II D5 missile and Warhead 93/Mark7 development. This contract extends through the end of September 2029.
The second contract is valued at $1.2 billion. Under this award, Lockheed’s rotary and mission systems business will provide Strategic Weapon System Trident fleet support, Trident II shipboard integration increment eight and navigation subsystem development services. Work under this contract is expected to run until September 2031.
F-35 Site Activation
Under a potential five-year, $1.15 billion contract modification from the U.S. Navy, Lockheed will help military customers activate F-35 sites. The modification covers planning and readiness reviews, contract management and production engineering support services for training device production lines in support of initial aircraft sustainment efforts related to all three F-35 variants. Work under this contract goes until December 2028.
AN/SQQ-89A (V) 15 Anti-Submarine Warfare Systems
In July, Lockheed announced that it secured a $180.5 million contract modification from the U.S. Navy for continued delivery of AN/SQQ-89A (V) 15 anti-submarine warfare systems and engineering support services.
Under the contract, Lockheed’s rotary and mission systems business will develop, integrate, manufacture and test Hypervisor Technology Zero AN/SQQ-89A (V) 15 surface ship undersea warfare combat systems. The contract runs through March 2025.
Ship Self-Defense System Support
Lockheed won a $126.9 million contract modification from the U.S. Navy in April, covering engineering services in support of ship self-defense system combat systems. Lockheed Martin Rotary and Mission Systems won the original contract, which had a ceiling value of $637.6 million, in August 2019.
Lockheed’s U.S. Air Force Contracts
JASSM FMS
Lockheed won a $3.23 billion sole-source contract to produce joint air-to-surface standoff missiles, or JASSM, and long-range anti-ship missiles for the U.S. Air Force. Under the contract, Lockheed will supply JASSM systems to the militaries of Japan, Finland, Poland and the Netherlands. This contract extends through July 2032.
Lockheed’s U.S. Army Contracts
Guided Multiple Launch Rocket System
In September, Lockheed announced a potential $3.43 billion contract modification from the U.S. Army that covers the production of surface-to-surface weapon systems. Work under the Guided Multiple Launch Rocket System supply contract runs through October 2027.
In May, the Army awarded Lockheed two contract modifications worth $553 million combined to build and deliver GMLRS to the Army and foreign military customers.
Lockheed’s Air & Space Contracts
National Security Space Launch Program
United Launch Alliance, a joint venture between Lockheed and Boeing, secured a potential $1.1 billion award from the U.S. Space Force to provide launch services under the second phase of the National Security Space Launch program. This contract brought the total face value estimate to $4.5 billion. The contract extends through March 2028.
Next-Gen Missile Warning Satellites
Lockheed was awarded a potential five-year, $977.6 million contract modification from the Space Systems Command to continue its work providing development, operational testing and interim contractor support for two future missile warning satellites in geosynchronous orbit.
The Phase 2.1B contract modification covers on-orbit development, test, tuning and calibration of the main mission payload as part of the Next Generation Overhead Persistent Infrared Geosynchronous System. The modification brings the total face value of the Next-Generation OPIR contract to $8.2 billion. Work under the contract runs through July 2029.
NOAA GeoXO
In June, Lockheed announced its $2.27 billion contract from NASA to build a constellation of Geostationary Extended Observations, or GeoXO, weather satellites for the National Oceanic and Atmospheric Administration. The contract covers the development of three GeoXO satellites with options for four additional spacecraft.
The contract’s 15-year performance period includes 10 years of support for on-orbit operations and five years of on-orbit storage per satellite.
Three months later in September, Lockheed booked a $297 million NASA contract to develop a lightning mapping instrument called the GeoXO Lightning Mapper. This contract covers the production of two flight instruments as part of NOAA’s GeoXO satellite program, with options for two additional units. The deal covers 10 years of on-orbit operations support and five years of on-orbit storage for each flight model.
C-130J Hercules
Lockheed continued its work with NOAA in September, booking a contract worth $847 million to build two C-130J Hercules aircraft for the agency. The aircraft will replace NOAA’s current WP-3D Orion hurricane hunter aircraft that have been in service since the 1970s. The Hercules aircraft will be capable of launching and maneuvering uncrewed aircraft and are expected to be operational by 2030.
Lockheed’s Foreign Military Sales
AGM-114R3 Hellfire II Missiles
Lockheed Martin is the principal contractor on a deal to sell 2,503 AGM-114R3 Hellfire II missiles and related equipment to the Kingdom of Saudi Arabia for approximately $655 million. The State Department approved the deal in October 2024.
Javelin FGM-148F Missiles
In September, the Defense Security Cooperation Agency announced the approval of a $114 million sale of Javelin missiles and equipment to Bulgaria. Lockheed Martin teamed up with RTX under their Javelin Joint Venture partnership to sell 218 pieces of the portable anti-tank weapon, plus 107 Javelin Lightweight Command Launch Units and associated training and support equipment.
The Javelin Joint Venture is also the prime contractor on a $260 million FMS agreement with the government of Morocco. In March, the State Department approved Morocco’s request to procure 612 Javelin FGM-148F missiles and 200 Javelin Lightweight Command Launch Units.
M1A2 Abrams Tanks
Lockheed is one of the principal contractors on a $2.2 billion FMS agreement with the government of Bahrain for Abrams main battle tanks and related equipment. Under the agreement, Bahrain requested 50 M1A2 System Enhancement Program version 3 vehicles, four M88A2 Hercules combat recovery vehicles, eight M1110 joint assault bridges, eight M1150 assault breacher vehicles and eight heavy assault scissor bridges.
Black Hawk Helicopters
In May, the State Department approved a potential $950 million FMS agreement of UH-60M Black Hawk helicopters for the Brazilian government. Lockheed is the lead contractor on the deal, which includes 12 UH-60M Black Hawk helicopters, associated equipment, logistics and program support.
JASSM-ER
The State Department approved the sale of 821 Lockheed Martin-built AGM-158B-2 Joint Air-to-Surface Standoff Missile Extended Range all-up-rounds to the government of Poland in March. The potential acquisition cost about $1.77 billion for the JASSM-ER all-up-rounds.
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