Lockheed Secures a Contract to Modernize F-22 Raptor Aircraft

Lockheed Martin Corp. LMT recently clinched a deal worth $270 million to integrate a system of next-generation infrared defensive sensors on the F-22 Raptor military aircraft. The award has been provided by the U.S. Air Force.The F-22 will shortly feature a new distributed set of embedded TacIRST sensors called the Infrared Defensive System, which had been developed by Lockheed to improve aircraft capability and endurance.More on Lockheed’s F-22 Raptor Lockheed’s F-22 fighter jet, renowned as one of the most advanced fifth-generation aircraft, stands out for its mission readiness and cutting-edge technology. It is the world's leading air dominance fighter due to its exceptional blend of stealth, speed, agility and situational awareness, as well as its deadly long-range air-to-air and air-to-ground weapons.The F-22 gives U.S. and allied forces unparalleled battlespace awareness while engaging targets by gathering and exchanging tactical information with friendly assets.LMT’s Growth Prospects Rising military conflicts, terrorism and border disputes, along with rapid technological advancements in combat jets, have led nations to increase their defense spending on combat-proven jets, which constitute an integral part of their defense structure.This is likely to have prompted the Mordor Intelligence firm to forecast a compound annual growth rate of 4.7% for the military aviation market during the 2025-2030 period.Such strong market prospects drive growth opportunities for Lockheed, backed by its robust portfolio of combat jets, including the F-35 Lightning II, F-21, F-2 Support Fighter, F-16 Fighting Falcon and F-22 Raptor.Opportunities for Other Aerospace Defense Companies Other aerospace defense companies that are likely to reap the benefits of the military aviation market are listed below:Northrop Grumman Corp. NOC: It is a leading provider of manned and unmanned air systems. It builds some of the world’s most advanced aircraft like the E-2C Hawkeye 2000, A-10 Thunderbolt II, F-5 Tiger Fighter Jet and many more.Northrop has a long-term (three to five years) earnings growth rate of 19%. The Zacks Consensus Estimate for NOC’s 2025 sales calls for an improvement of 3.6%.The Boeing Company BA: The company offers a comprehensive portfolio of the most advanced aircraft in the combat market, which includes F/A-18 Super Hornet, P-8, C-17 Globemaster III, CH-47 Chinook, Chinook Block II, EA-18G Growler and a few more.Boeing boasts a long-term earnings growth rate of 19.3%. The Zacks Consensus Estimate for BA’s 2025 sales suggests an improvement of 23.5%.Embraer S.A. ERJ: The company offers a comprehensive portfolio of the most advanced aircraft in the combat market, which includes the A-29 Super Tucano, P600 AEW&C and the C-390 Millennium military multi-mission aircraft.The Zacks Consensus Estimate for ERJ’s 2025 sales indicates growth of 17.8% from the prior-year estimated number. The company delivered an average earnings surprise of 127.28% in the last four quarters.LMT Stock Price Movement In the past month, Lockheed shares have risen 1.9% compared with the industry’s growth of 4%.Image Source: Zacks Investment ResearchLMT Stock’s Zacks Rank Lockheed currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Boeing Company (BA): Free Stock Analysis Report Lockheed Martin Corporation (LMT): Free Stock Analysis Report Northrop Grumman Corporation (NOC): Free Stock Analysis Report Embraer-Empresa Brasileira de Aeronautica (ERJ): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks