Lockheed Martin Wins $720 Million Contract for Joint Air-to-Ground Missile and Hellfire Systems

Lockheed Martin Corporation (LMT) has been awarded a modification contract worth $720.1 million to manufacture Joint Air-to-Ground Missiles (JAGM) and Hellfire missiles. The contract, facilitated by the U.S. Army Contracting Command in Redstone Arsenal, AL, will be executed in Ocala, FL, with completion anticipated by September 30, 2028.

Global demand for advanced military arms is increasing, fueling consistent orders for Lockheed Martin’s missile systems such as the JAGM and Hellfire missiles. The missile market is expected to grow at a compound annual growth rate of 5% from 2025 to 2030, driven by rising national security concerns and advancements in missile technology.