What Happened
Major Defense Contractor Secures Two Significant Deals
Lockheed Martin has secured two significant defense contracts worth a combined $1.08 billion, according to an announcement by the U.S. Department of Defense. The contracts cover the production of the Joint Air-to-Surface Standoff Missile and Long Range Anti-Ship Missile, as well as the MK 48 Heavyweight Torpedo program. Work on the contracts will be performed in various locations, including Orlando, Florida, and Liverpool, New York. The contracts were awarded on September 3, 2026, and are expected to be completed by 2030 and 2029, respectively. This news was first reported by Investing.com.