Lockheed Martin (NYSE:LMT) has won an Air Force contract to modernize 29 long-range radars.

The US defense contractor Lockheed Martin (NYSE:LMT) has won a $46.8 million contract from the US Air Force to modernize its 29 geographically disbursed AN/FPS-117 long-range surveillance radars under Essential Parts Replacement Program (EPRP).

Lockheed Martin (NYSE:LMT)’s Mission Systems & Sensors business’s EPRP program manager Frank Mekker said, “Our open architecture approach to L-Band radars provides commonality in supporting and sustaining a fleet of more than 175 long-range radars operational around the world. Signal processing upgrades like EPRP are leveraged across this fleet, including the TPS-59, FPS-117, TPS-77, and even our Three Dimensional Expeditionary Long Range Radar (3DELRR), to provide significant lifecycle cost savings for our customers”.

Lockheed Martin (NYSE:LMT) stocks were at 78.26 at the end of the last day’s trading. There’s been a 5.1% movement in the stock price over the past 3 months.

Lockheed Martin (NYSE:LMT) Analyst Advice
Consensus Opinion: Hold
Mean recommendation: 2.6
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 2.5
Zack’s Rank: 2 out of 7 in the industry