Summary
- Lockheed Martin starts the year with a big space contract.
- January contract awards showed contract value growth compared to previous years.
- Obligated funds did not reflect the contract value growth.
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In 2020, Lockheed Martin (NYSE:LMT) received $123 billion in contract awards including awards which are optional in nature. With a change in administration, there's some doubt about how defense budgets will develop going forward. We won’t directly see any big changes in financial results when there's a transition in administration and weapon system acquisition tends to be a multi-year trajectory, so changes might actually not be as obvious as some expect, but it remains highly interesting to look how contracts awards are developing.
In this report, I have a look at the contract awards for Lockheed Martin in January 2021 which includes a multi-billion contract for a satellite program.
Source: Lockheed Martin
Space pulls the cart
Figure 1: Lockheed Martin contracts in January 2021 (Source: TAF Defense Contracts Monitor)
