LOCKHEED MARTIN CORPORATION

(LMT)
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Delayed Nyse  -  04:07 2022-06-24 pm EDT
419.04 USD   +2.05%
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U.S. Air Force And Lockheed Martin Successfully Complete ARRW Hypersonic Boosted Test Flight

05/18/2022 | 05:57am EDT

EDWARDS AIR FORCE BASE, Calif. - The U.S. Air Force and Lockheed Martin [NYSE: LMT] successfully conducted a hypersonic-boosted flight test of the AGM-183A Air-launched Rapid Response Weapon (ARRW) from the service's B-52H Stratofortress. The successful flight demonstrates the weapon's ability to reach and withstand operational hypersonic speeds, collect crucial data for use in further flight tests, and validate safe separation from the aircraft to deliver the glide body and warhead to designated targets from significant standoff distances.

'The need for hypersonic strike capabilities is critical to our nation and this successful test will help us to maintain an accelerated and rigorous timeline,' said Dave Berganini, vice president of Hypersonic and Strike Systems at Lockheed Martin Missiles and Fire Control. 'Our strong partnership with the U.S. Air Force has allowed us to quickly progress hypersonic technologies for our men and women in uniform.'

'The ARRW rapid prototyping program used Section 804 authorities provided by Congress to significantly accelerate the development and test of this system, without sacrificing engineering rigor,' said Marya Bard, U.S. Air Force ARRW program director. 'The tightly integrated Lockheed Martin and government team achieved speed with discipline by focusing on a common vision of providing combatant commanders a survivable rapid response strike capability as early as possible.'

Additional booster and all-up-round test flights will continue throughout 2022, before reaching Early Operational Capability (EOC) in 2023.

Hypersonic weapons provide a rapid response, time critical capability to overcome distance in contested environments using high speed, altitude and maneuverability.

Hypersonic technology has continued to present several complex engineering challenges. Going Mach 5, sometimes even faster, generates extreme levels of heat, driving the need for innovative materials, sensors and electronics to withstand such speeds throughout its journey. In addition to heat, these systems must be able to maintain consistent communication connections, as well as considerable intelligence to perform precise maneuverability techniques to overcome a wide range of advanced defense systems and extreme contested environments.

Lockheed Martin is proud to support multiple hypersonic systems development projects and is leveraging resources, talents, and lessons learned across the corporation to positively influence outcomes. Playing a significant role in the research, development and demonstration of hypersonic technologies for close to 60 years, Lockheed Martin has invested in the development of critical hypersonic technologies needed to enable operational systems to help the US and its allies counter rapidly emerging threats.

About Lockheed Martin

Headquartered in Bethesda, Maryland, Lockheed Martin Corporation is a global security and aerospace company that employs approximately 114,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

Contact:

Israel

Moti Shvimer

T: +97 25 2687 9887

(C) 2022 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2022 66 003 M - -
Net income 2022 7 123 M - -
Net Debt 2022 8 903 M - -
P/E ratio 2022 15,7x
Yield 2022 2,68%
Capitalization 112 B 112 B -
EV / Sales 2022 1,83x
EV / Sales 2023 1,78x
Nbr of Employees 114 000
Free-Float 99,8%
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Last Close Price 419,04 $
Average target price 483,00 $
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Managers and Directors
James D. Taiclet Chairman, President & Chief Executive Officer
Jesus Malave Chief Financial Officer
Rodney A. Makoske SVP, Chief Engineering, Technology & Operations
Yvonne O. Hodge Chief Information Officer & Senior Vice President
Frank A. St. John Chief Operating Officer
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