Lockheed Martin agrees to pay $29.5 million to resolve federal DEI discrimination claims

Lockheed Martin received a $694M contract to produce hypersonic missiles for the US Air Force, amid a global arms race involving the US, China, and Russia. China and Russia lead in hypersonic weapons, with China's arsenal expected to reach 4,000 by 2035. The US plans to spend $37.9B on hypersonic programs from 2027 to 2031 to catch up. China's advantages include early deployment, advanced testing infrastructure, and high production rates.

Sikorsky, a Lockheed Martin company, was selected to deliver the S-92A+ helicopter to the Republic of Korea Air Force for its Presidential Helicopter II program. The contract includes four helicopters, with local mission equipment completion by KAEMS, and additional special mission equipment and sustainment support. The S-92A+ features upgraded engines and increased payload or fuel capacity.

Lockheed Martin, Boeing, and Curtiss-Wright secured U.S. Navy contracts. Leonardo DRS partnered with AeroVironment for anti-drone lasers. Democrats' midterm wins may impact Trump's $1.5T 2027 defense budget. Defense stocks like LMT, LHX, RTX, and NOC fell. L3Harris, Boeing, and HII reported strong Q3 earnings. Curtiss-Wright (CW) raised its 2026 EPS forecast after a 10% revenue increase and $1.1B in new orders. Leidos (LDOS) beat EPS estimates but missed revenue forecasts.

The South Korean military selected Lockheed Martin's S-92A+ helicopter for a presidential transport project, costing 873 billion won. The new model will be operational from 2031. Additionally, the government approved a nuclear submarine project, exempting it from a feasibility study to expedite development, aiming for a launch in the late 2030s.

The U.S. Navy plans to integrate Lockheed Martin's PAC-3 MSE interceptor onto warships by 2029, expanding combat capabilities. Lockheed received a $93M contract for integration and invested $120M for maritime adaptation. Tests are planned for 2028, with full integration by 2029. The PAC-3 MSE can counter various missiles and aircraft, and the Army recently awarded Lockheed a $58B contract to boost production.

Lockheed Martin (LMT) is investing $300 million to expand its Texas missile facility, adding 2,000 jobs and 185,000 sq ft of production space. The expansion supports US missile programs and includes automated machining. The project is part of an $8-9 billion plan to boost munitions production by 2030.