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MarketScreener Homepage  >  Equities  >  Nyse  >  Lockheed Martin Corporation    LMT

LOCKHEED MARTIN CORPORATION

(LMT)
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Lockheed Martin : Most Advanced SBIRS Missile Warning Satellite Ready For 2021 Launch; SBIRS GEO-5 is First Military Satellite Using New LM 2100 Bus to Drive Resiliency, Efficiency and Record Production Speed

12/03/2020 | 10:26am EST

SUNNYVALE, Calif- Lockheed Martin (NYSE: LMT) today announced the U.S. Space Force has determined the fifth Space Based Infrared System Geosynchronous Earth Orbit satellite (SBIRS GEO-5) is complete and ready for launch in 2021.

Built in a record time and at no additional cost to the government for the upgrade, SBIRS GEO-5 is the first military space satellite built on the company's modernized, modular LM 2100 combat bus. SBIRS GEO-6, launching in 2022, is also being built on the new bus designed for speed and resilience.

'SBIRS' role as an ever-present, on-orbit guardian against global ballistic missile threats has never been more critical,' said Tom McCormick, Lockheed Martin's vice president for Overhead Persistent Infrared (OPIR) Systems. 'In 2019 alone, SBIRS detected nearly one thousand missile launches, which is about a two-fold increase in two years.'

'Completing the production of a complex missile-warning satellite during the challenging COVID environment is a huge accomplishment and is a testament to Lockheed Martin's professionalism and dedication to the security of our Nation,' said Capt. Alec Cook, Space and Missile Systems Center's SBIRS GEO-5/6 Assembly, Test, and Launch Operations lead.

Both SBIRS GEO-5 and GEO-6 are slated to join the U.S. Space Force's constellation of missile warning satellites, equipped with powerful scanning and staring infrared surveillance sensors, which protect our nation 24-7. These sensors collect data that allow the U.S. military to detect missile launches, support ballistic missile defense, expand technical intelligence gathering and bolster situational awareness on the battlefield.

SBIRS GEO-5 was officially completed on Oct. 29, 2020.

LM 2100 Bus: Focuses on Speed and Resiliency

The LM 2100 bus is the result of a Lockheed Martin internally-funded, multi-year modernization initiative. It is designed to provide greater resiliency and cyber-hardening; enhanced spacecraft power, propulsion and electronics; common components and procedures to streamline manufacturing; and a flexible design that reduces the cost to incorporate future, modernized sensor suites.

'We added even further enhanced resiliency features to the LM 2100 to create an initial 'combat bus' for the Space Force. SBIRS GEO-5 has proven itself a valuable incremental step towards achieving the resilient missile warning that will be provided by the Next Gen OPIR Block 0 System, the follow-on to SBIRS,' added McCormick.

In June 2015, the Air Force agreed to rebaseline SBIRS GEO-5 and GEO-6 to upgrade both satellites to Lockheed Martin's modernized LM 2100 bus at no additional cost. From that point, SBIRS GEO-5 was completed in approximately five years, in line with the government's need to increase production speed and address emerging threats, and still supporting the government's original 2021 launch date.

Besides SBIRS GEO-5 and GEO-6, the LM 2100 space vehicle is the baseline for three Next Gen OPIR Block 0 GEO satellites expecting to launch starting in 2025; and the future GPS III Follow On (GPS IIIF) satellites, which are expected to launch starting in 2026.

Lockheed Martin is proud to be part of the SBIRS team led by the Production Corps, Geosynchronous Earth Orbit Division, at the U.S. Space Force's Space and Missile Systems Center, Los Angeles Air Force Base, California. Lockheed Martin Space, Sunnyvale, California, is the SBIRS prime contractor, with Northrop Grumman Aerospace Systems, Azusa, California, as the payload integrator.

About Lockheed Martin

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 110,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. For additional information, visit our website: www.lockheedmartin.com.

Please follow @LMNews on Twitter for the latest announcements and news across the corporation.

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2020 65 292 M - -
Net income 2020 6 839 M - -
Net Debt 2020 8 779 M - -
P/E ratio 2020 13,5x
Yield 2020 2,98%
Capitalization 92 263 M 92 263 M -
EV / Sales 2020 1,55x
EV / Sales 2021 1,45x
Nbr of Employees 110 000
Free-Float 99,0%
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Last Close Price 330,69 $
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NameTitle
James D. Taiclet President, Chief Executive Officer & Director
Marillyn A. Hewson Executive Chairman
Frank A. St. John Chief Operating Officer
Kenneth R. Possenriede Chief Financial Officer & Executive Vice President
Rodney A. Makoske SVP-Corporate Engineering, Technology & Operations
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