Lockheed (LMT) Inks Deal for 35 F-35 Fighter Jets From Germany

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Tue, March 15, 2022, 9:33 PM
Lockheed Martin Corporation LMT recently secured a deal for the supply of 35 F-35 Fighter Jets to Germany amid the ongoing Russia-Ukraine crisis. The move is in sync with Germany’s latest announcement to strengthen its defense structure. This surely bodes well for Lockheed Martin as the F-35 program remains a key catalyst for its Aeronautics business unit’s top line.Rationale Behind the Deal, The war between Russia and Ukraine has resulted in nations increasing their military spending, mainly to upgrade their defense weaponry and arsenals.

In this context, it is imperative to mention that Germany recently pledged to increase its defense spending to approximately $845 billion in a bid to protect its country from any sudden war crisis. This defense spending includes a “special fund” of $113 billion solely for armament projects.Additionally, the recent purchase deal by Germany will also serve the nation’s purpose of replacing its age-old Tornado, which the country earlier decided to replace with Boeing’s F-18.
The recent purchase by Germany is likely to boost the revenue growth prospects of LMT’s Aeronautics business unit.Growing Importance of F-35 in Europe F-35 enjoys strong demand in Europe. In December 2021, in a bid to replace its fleet of F/A-18 Hornets, Finland announced the purchase of 64 F-35A jets for $11.3 billion. Before this development, in June 2021, Switzerland announced the purchase of36 F-35A jets. Additionally, apart from Finland and Switzerland, Poland, Denmark, Italy, Norway and the Netherlands are also equipped with one or more F-35 jets.This exemplifies the growing importance of Lockheed Martin’s F-35 jets in Europe. Also, other European regions may increase their defense spending in the developing threat situation after Russia’s invasion of Ukraine, leading to more inflow of contracts for Lockheed Martin’s F-35 jets, like the latest one.
https://www.yahoo.com/finance/news/lockheed-lmt-inks-deal-35-143302395.html
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