Lockheed Martin Bags $816M Contract From The Space Development Agency To Deliver 36 Small Satellites

Lockheed Martin Corporation LMT has received a contract worth $816 million to deliver 36 small satellites to Space Development Agency's communications network. 

Under the deal, KMT will develop 36 Tranche 2 Transport Layer (T2TL) Beta satellites for SDA.

With this award, Lockheed Martin will deliver at least 88 data communications satellites for SDA's low-Earth orbit military constellation.

"Tranche 2 will significantly enhance our warfighters' capabilities and establish new levels of resiliency, connectivity, and orbital diversity that are necessary for countering future threats," said Joe Rickers, Lockheed Martin's vice president for Protected Communications. 

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T2TL is part of an overarching plan to boost advanced missile detection and tracking, among others.

T2TL Beta will consist of 72 satellites, be deployed into orbit over a series of launches beginning in 2026, and undergo a continuous checkout and commissioning process for acceptance into operations.  

The company's 10 Tranche 0 Transport Layer (T0TL) satellites will launch in 2023, while its 42 Tranche 1 satellites are in production and on track for a 2024 launch.

Price Action: LMT shares are trading higher by 0.25% to $451.18 on the last check Monday.