Lockheed Martin Wins $227M Rocket Contract from US Army

Lockheed Martin Missiles & Fire Control ("MFC") has won a $226.9 million foreign military sales contract from the US Army for the procurement of several rockets.

The rockets included in the procurement are the unitary rocket, reduced range practice rockets and alternate warhead rockets. Contract work is expected to be complete by Jun 2, 2017.

President Barack Obama's proposed budget allocates $9.6 billion for missile defense in fiscal 2016. The FY16 budget proposal emphasizes on missile defense, space systems, cyber security, Intelligence Surveillance Reconnaissance ("ISR"), advanced sensors, communications and munitions.

Lockheed Martin enjoys a steady stream of contracts from the US Department of Defense, even in this tepid budget scenario.

Recently, the company has won a $735.5 million contract for the maintenance and operation of several communication satellites belonging to the US military.