Lockheed Martin says PAC-3 MSE shipboard tests are planned for 2028 with fielding aimed for 2029

Lockheed Martin received a phase II contract for $93M to develop and integrate PAC-3 MSE for the U.S. Navy, building on prior work. The company invested $120M in adjustments for seamless integration. The PAC-3 MSE Navy variant will be produced in Camden, Arkansas, with testing milestones achieved and more planned. The U.S. Army also awarded a $58B contract for PAC-3 MSE production acceleration.

Lockheed Martin (LMT) acquired Ultra Maritime for $3.45 billion, closing the deal on 26 October. The acquisition adds Ultra's undersea warfare technology to Lockheed's portfolio, enhancing its anti-submarine warfare capabilities. Ultra's products, including sonobuoys and sensors, complement Lockheed's existing naval systems, positioning the company ahead of competitors like BAE Systems and Thales.

Lockheed Martin tested its Mk21A ICBM reentry vehicle, an upgrade to the Mk21 system used on the Minuteman III missile. The test, conducted on October 9, 2026, was part of a $1B+ contract with the US Air Force. The company used digital engineering and flight data to accelerate development. The design has sparked UFO comparisons online.

Lockheed Martin agreed to pay $30M to settle claims by the Trump administration that its DEI policies discriminated against white workers. The settlement includes $22M for false compliance claims and $7.5M for affected employees. Lockheed denied wrongdoing but settled to avoid litigation. The EEOC called it the largest DEI-related case to date. The DOJ alleged Lockheed pressured managers to adjust incentive program selections based on demographics.

Lockheed Martin (LMT) will pay $29.5M to settle US government claims of racial and sex-based employment discrimination. The settlement includes $7.5M for about 1,000 employees, resolving allegations tied to a 2021 bonus initiative. Lockheed did not admit wrongdoing, aiming to avoid prolonged litigation.

Lockheed Martin agreed to a $29.5 million settlement with U.S. authorities over allegations of reverse discrimination against white workers. The company will pay $22 million to the government and $7.5 million to affected employees. Lockheed denied wrongdoing but settled to avoid litigation. The case involved a 2021 bonus initiative flagging demographic outliers, with federal officials alleging pressure to adjust selections based on race.