Lockheed Martin is gearing up for takeoff as the Pentagon plans to restart F-35 deliveries, according to a recent report. General Kenneth Wilsbach revealed that the Air Force is set to choose the builder of its next fighter jet later this year.
Lockheed Martin (NYSE: LMT) is experiencing a surge in trading activity following the news that the Pentagon will resume accepting new F-35s next week. The decision comes after a temporary halt in July last year due to issues with the Technology Refresh-3 (TR-3).
General Wilsbach highlighted the focus on resolving software stability concerns with the TR-3 upgrade to the F-35 jets. This delay has prevented the delivery of the aircraft to the Air Force for the past few months. However, efforts are underway to address these issues and initiate deliveries as soon as this month.
In a separate development, Lockheed Martin Aeronautics secured a significant $520.4 million contract modification from the U.S. Air Force for the production of the F-16 Viper Shield electronic warfare suite. Additionally, the company’s competitor, RTX Corporation, won a $1.2 billion contract to supply Germany with Patriot air and missile defense systems.
Investors looking to capitalize on Lockheed Martin’s growth can explore exchange-traded funds like the Global X Defense Tech ETF (SHLD) and First Trust Indxx Aerospace & Defense ETF (MISL). Aerospace and defense ETFs, including iShares U.S. Aerospace & Defense ETF (ITA) and Invesco Aerospace & Defense ETF (PPA), experienced an upward trend on Thursday.
As Lockheed Martin prepares to resume F-35 deliveries and secure new contracts, the aerospace and defense sector shows promise for investors. The market response to these recent developments indicates positive momentum for the company and its competitors.
