Canada Signs Contract Amendments with Lockheed Martin for CC-130J Hercules Fleet
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Should l Buy LMT?
Source: Yahoo Finance
- Contract Amendment Value: The Canadian government signed two contract amendments with Lockheed Martin totaling $1.1468 billion, with $462.5 million extending in-service support for the CC-130J fleet until 2029 and $684.3 million integrating RCAF 105 upgrades, ensuring the fleet meets diverse mission requirements.
- Economic Contribution: The in-service support work is expected to contribute $85 million annually to Canada's GDP and create or maintain 620 high-skilled jobs, demonstrating the positive impact of defense procurement on the national economy and further solidifying Canada's industrial base.
- Technology Upgrade Benefits: The RCAF 105 upgrades will provide the Canadian Armed Forces with new technologies to enhance air traffic management efficiency and safety, ensuring compliance in both civil and military airspace while supporting 525 jobs and contributing $70 million to GDP annually.
- Defense Investment Agency Formation: The Canadian government is modernizing defense procurement through the newly established Defense Investment Agency (DIA), aimed at accelerating the delivery of critical equipment and enhancing the resilience and competitiveness of the defense industrial sector through early engagement with industry and support for innovation.
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Analyst Views on LMT
Wall Street analysts forecast LMT stock price to rise
12 Analyst Rating
4 Buy
7 Hold
1 Sell
Hold
Current: 520.410
Low
430.00
Averages
535.50
High
605.00
Current: 520.410
Low
430.00
Averages
535.50
High
605.00
About LMT
Lockheed Martin Corporation is an aerospace and defense technology company. The Company's segments include Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS) and Space. The Aeronautics segment is engaged in research, design, development, manufacture, integration, sustainment, support and upgrade of advanced military aircraft, including combat and air mobility aircraft, unmanned air vehicles and related technologies. The MFC segment provides air and missile defense systems; tactical missiles and precision strike weapon systems; logistics; fire control systems; engineering support and integration services. The RMS segment designs, manufactures, services and supports various military and commercial helicopters, sea and land-based missile defense systems. The Space segment is engaged in the research and design, development, engineering and production of satellites, space transportation systems, and strategic, advanced strike, and defensive systems.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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