Lockheed Martin (LMT) stock surged 5.08% during Wednesday's trading session following news of a significant contract win for its F-35 Lightning II fighter jet program. The aerospace and defense giant secured a $22.5 million modification contract, boosting investor confidence in the company's continued dominance in the military aviation sector.
The contract, awarded by the Naval Air Systems Command, tasks Lockheed Martin with providing ongoing maintenance and sustainment support for the Reprogramming Laboratory facilities and systems related to the F-35 program. This support will benefit non-U.S. Department of Defense participants, including Australia, Canada, and the United Kingdom. The work, set to be completed by April 2026, will be carried out in Eglin, FL, and Fort Worth, TX.
This latest contract underscores the enduring strength of Lockheed Martin's F-35 program, which has already delivered 1,102 units as of December 31, 2024. The F-35's advanced sensors and communication technology have made it a cornerstone of modern air defense systems. With the global military aviation market projected to grow at a compound annual growth rate of 4.7% from 2025 to 2030, according to Mordor Intelligence, Lockheed Martin appears well-positioned to capitalize on increasing defense spending worldwide.
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