Lockheed Martin Lands Major Defense Contracts and Enters New Partnership

Lockheed Martin (LMT) secured more than $607 million in new U.S. Department of War contracts this week, split between a $502.4 million award for AH-64 Apache targeting and night-vision system support and a $105 million task order for GPS III ground-segment modifications.

The contract wins came alongside a memorandum of understanding with Germany's Rheinmetall, signed July 7, 2026 at the NATO Summit Defense Industry Forum, to establish a joint venture for European co-production of ATACMS missiles. Production is planned at Rheinmetall's Unterluess facility in Germany, which would become the first ATACMS manufacturing site outside the United States and is intended to meet growing European demand for locally produced munitions.

Lockheed Martin also demonstrated command-and-control and battle-management capabilities for integrated air and missile defense during exercise Valiant Shield 2026, showcasing systems that unify converged fires and long-range targeting across the Guam defense network ahead of live-fire testing.

Together, the announcements underscore Lockheed Martin's push to broaden its defense revenue base beyond legacy U.S. procurement, both through international partnerships that localize production in allied markets and through software-driven integration work that plays to its systems engineering strengths. Investors will be watching how quickly the Rheinmetall joint venture converts into a signed production contract, and whether the AH-64 and GPS III awards signal steady near-term momentum in the company's core U.S. defense business.

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