Lockheed Martin Wins Initial $86 Million Joint Laser Weapon System Agreements

MT Newswires Live07-09

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

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