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Kenneth Possenriede: Lockheed Sees Demand for Missile Defense Platforms

Kenneth Possenriede: Lockheed Sees Demand for Missile Defense Platforms - top government contractors - best government contracting event

Kenneth Possenriede: Lockheed Sees Demand for Missile Defense Platforms - top government contractors - best government contracting event

Kenneth Possenriede, an executive vice president and chief financial officer of Lockheed Martin, said the company is seeing strong demand for its Hellfire, Joint Air to Surface Standoff Missile and Patriot Advanced Capability““3 systems, Flightglobal reported Tuesday.

First quarter sales in the Bethesda, Md.-based contractor's missiles and fire control segment rose 40 percent year-over-year to $2.35B. The company credited the increase in part to higher volume for precision fires, hypersonic and classified programs.

Lockheed's F-35 program also helped drive total Q1 sales of $14.3B, compared with $11.6B in the same quarter a year ago.

The aeronautics segment, which oversees production of the fifth-generation aircraft, saw its net sales jump 27 percent to $5.58B and attributed the growth primarily to F-35 net sales of $910M for the recent quarter.

Romania and Poland have expressed interest in procuring F-35s, the report noted.

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