Lockheed Martin Secures $720M Contract for JAGM & Hellfire Missiles

Lockheed Martin has secured a $720.1 million contract to produce Joint Air-to-Ground Missiles (JAGM) and Hellfire missiles. The work will be carried out in Ocala, FL and is projected to be completed by Sept. 30, 2028. The award has been provided by the U.S. Army Contracting Command. The contract win reflects the growing demand for advanced military arms and ammunition, including missiles and missile defense systems. Lockheed's Hellfire and JAGM missiles offer multi-domain combat solutions, making them viable in the defense industry. The company's Missile and Fire Control unit is a recognized developer of high-performance missiles, with prominent programs including the Patriot Advanced Capability-3 and Terminal High Altitude Area Defense. The expanding missiles and missile system market is expected to benefit Lockheed and its peers, including Northrop Grumman, RTX Corporation, and The Boeing Company.

Lockheed Martin has been awarded a $720.1 million contract modification to produce Joint Air-to-Ground Missiles (JAGM) and Hellfire missiles by the U.S. Army. The contract, announced on Wednesday, is part of the Production Year Four of HELLFIRE/JAGM missiles, bringing the total cumulative value of the contract to approximately $1.49 billion [1][2]. The work will be performed in Ocala, Florida, with an estimated completion date of September 30, 2028.

The contract reflects the growing demand for advanced military arms and ammunition, including missiles and missile defense systems. Lockheed's Hellfire and JAGM missiles offer multi-domain combat solutions, making them viable in the defense industry. The company's Missile and Fire Control unit is a recognized developer of high-performance missiles, with prominent programs including the Patriot Advanced Capability-3 and Terminal High Altitude Area Defense.

The expanding missiles and missile system market is expected to benefit Lockheed and its peers, including Northrop Grumman, RTX Corporation, and The Boeing Company. In 2023, Lockheed secured a $439.5 million Army contract to produce air-to-ground missile systems for U.S. and international defense customers. In April 2024, the company received a $483 million follow-on contract to build JAGM and Hellfire missiles for the U.S. Army, U.S. Navy, and the governments of the Czech Republic, France, and Poland [2].

The award by the U.S. Army Contracting Command is a significant milestone for Lockheed Martin, highlighting the company's role in meeting the increasing demand for advanced military technology. The contract win underscores the importance of the defense sector in the U.S. economy and the global market for defense equipment.

References:
[1] https://www.tradingview.com/news/DJN_DN20250813013076:0-lockheed-martin-awarded-720-1-million-modification-to-u-s-army-contract/
[2] https://www.govconwire.com/articles/lockheed-army-contract-modification-jagm-hellfire-missile-production