Lockheed Martin Wins Initial $86 Million Joint Laser Weapon System Agreements
Lockheed Martin (LMT) and nLIGHT Defense won initial agreements worth $86 million to advance next-generation cruise missile and unmanned aerial system defense architectures, the US Department of Defense said Thursday. The joint laser weapon system contracts carry a combined total program value of $847 million to build container-based high-energy lasers, the department said. The first prototype weapons will operate at roughly 150 kilowatts before scaling up to a 500-kilowatt threshold to handle cruise missile defense. Shares of Lockheed Martin declined more than 1% in Thursday trading. Price: $519.59, Change: $-8.38, Percent Change: -1.59%
Lockheed Martin (LMT) and nLIGHT Defense won initial agreements worth $86 million to advance next-generation cruise missile and unmanned aerial system defense architectures, the US Department of Defense said Thursday.
The joint laser weapon system contracts carry a combined total program value of $847 million to build container-based high-energy lasers, the department said.
The first prototype weapons will operate at roughly 150 kilowatts before scaling up to a 500-kilowatt threshold to handle cruise missile defense.
Shares of Lockheed Martin declined more than 1% in Thursday trading.
Price: $519.59, Change: $-8.38, Percent Change: -1.59%