Lockheed Martin wins $94.2M AEGIS deal for Canada

Lockheed Martin received a $94.2 million contract modification from the U.S. Navy through the Rotary and Mission Systems division. The award supports ongoing development and integration of the AEGIS Combat System for the Royal Canadian Navy.

The contract is funded through the Foreign Military Sales program. The funding covers system engineering, computer program baseline development, and integration testing of AEGIS Weapon System elements and interfaces. Work will take place primarily in Moorestown, New Jersey, and is expected to be completed by December 2027.

The AEGIS system integrates sensors, weapons, and command-and-control tools to track and counter airborne and surface threats. U.S. allies continue to modernize fleets, which creates opportunities for Lockheed Martin as well as defense contractors RTX Corporation and Northrop Grumman.

Lockheed Martin shares rose 2% over the past year, while its broader industry fell 16%. The stock trades at a forward 12-month price-to-sales ratio of 1.40X, below the industry average of 2.19X. Zacks Consensus Estimates for Lockheed Martin earnings in 2026 and 2027 moved upward over the past 60 days.