The award lifts total radar program funding to about $1.01 billion through June 2029.
The U.S. Air Force awarded Lockheed Martin an $18.9 million contract modification for the Three-Dimensional Expeditionary Long-Range Radar program. The award increases the cumulative face value of the contract from $991.3 million to approximately $1.01 billion.
Work will take place in Liverpool, New York, and is scheduled for completion by June 2029. The systems track the location, altitude and movement of airborne threats, including aircraft and missiles.
Peers such as RTX and Northrop Grumman also develop competing radar and sensor portfolios. Over the past year, Lockheed Martin shares rose 5.3%, outperforming a 14.7% decline across the broader industry. The stock trades at a forward 12-month price-to-sales ratio of 1.43, compared with an industry average of 2.19.
Share prices can rise and fall. Past performance does not guarantee future results. This article is news, not investment advice.
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