The Clap Aerospace & defense company Lockheed Martin (NYSE: LMT) won a contract to build Black Hawk helicopters for the U.S. military.
Black Hawk helicopters The Black Hawk is the Army’s front-line helicopter used for air warfare.
The Deets The five-year contract will see Lockheed build at least 120 Black Hawks. It also includes the option to build another 135 aircraft to be used by the military or its allies. The contract’s value stands at $4.4 billion.
Why this Matters The U.S. military is searching for its next-generation helicopter, as it plans to retire 2,000 Black Hawks built in the 1970s.