STRATFORD, CT - Sikorsky, a Lockheed Martin company (NYSE:LMT), a prominent player in the Aerospace & Defense industry with a market capitalization of $121.6 billion, has been tasked by the U.S. Marine Corps to demonstrate its MATRIX™ flight autonomy system using an Optionally Piloted UH-60 Black Hawk® helicopter. According to InvestingPro data, Lockheed Martin maintains strong financial health with $71.3 billion in revenue over the last twelve months. The demonstrations, scheduled throughout 2025, aim to evaluate how autonomous aircraft can support Marine operations by providing resupply capabilities in contested environments.
Rich Benton, vice president and general manager of Sikorsky, stated that the MATRIX autonomy system allows for safe and reliable execution of complex missions, including cargo transport without onboard personnel. The upcoming exercises with the Marine Corps will assess the potential for an autonomous fleet to sustain expeditionary forces with precision resupply during distributed, high-tempo operations.
The Marine Corps will interact with the autonomous aircraft through a tablet, allowing mission adjustments before or after takeoff. These demonstrations are part of the Phase 1 Aerial Logistics Connector agreement under an Other Transaction (JO:TCPJ) Agreement from the Naval Air Systems Command. With an EBITDA of $10.2 billion and operating with moderate debt levels, Lockheed Martin demonstrates the financial stability needed to support such innovative military programs.
Initially developed to enhance the safety of manned helicopter flights, the MATRIX system has evolved with funding from the Defense Advanced Research Projects Agency (DARPA) ALIAS program. It now offers capabilities such as assisted flight handling, a virtual co-pilot, or complete autonomy without pilots.
Previous demonstrations of the MATRIX system's capabilities took place earlier this year, showcasing autonomous flights of the Optionally Piloted Black Hawk helicopter to Department of Defense officials. These included a demonstration at the Association of the United States Army exposition in Washington D.C., where the helicopter autonomously completed a series of flight maneuvers.
Sikorsky's recent activities build upon successful autonomous logistics flights during Project Convergence 2022, demonstrating the Black Hawk's ability to perform resupply missions without human intervention.
The MATRIX system is platform agnostic, having been tested in various operational environments on both rotary and fixed-wing aircraft. This flexibility could significantly contribute to the Marine Corps' Aerial Logistics Connector program by integrating autonomy into future fleet operations. Trading at $512.94, Lockheed Martin's stock shows characteristically low price volatility, making it an attractive option for defense sector investors. For comprehensive analysis of defense contractors and 1,400+ other stocks, visit InvestingPro for detailed financial metrics and expert insights.
This information is based on a press release statement from Lockheed Martin.
In other recent news, Lockheed Martin has secured a significant $245 million contract extension from the U.S. Naval Sea (NYSE:SE) Systems Command for the MK-48 Mod 7 Guidance and Control program. In earnings news, the defense contractor reported a slight 1% increase in sales for the third quarter, with a 5% rise anticipated for 2024. The company also surpassed estimated third-quarter earnings per share of $6.50, reporting an EPS of $6.80. Furthermore, Lockheed Martin increased its full-year 2024 revenue guidance by 0.4% to approximately $71.25 billion and its EPS forecast for 2024 by 1% to a midpoint of $26.65.
In corporate developments, the company witnessed the resignation of Jeh C. Johnson from its Board of Directors and completed its acquisition of Terran Orbital, a modular spacecraft manufacturer, aiming to enhance its space capabilities. However, Jefferies maintained a Hold rating on Lockheed Martin but reduced the company's price target from $590.00 to $580.00 following a third-quarter report that fell short of market expectations. These are some of the recent developments within Lockheed Martin.
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