LMT - Lockheed Martin Gives Thumbs Up to 1 Tiny Space Stock
2024-06-17 04:06:00 ET
Valued at $110 billion and doing nearly $70 billion in annual business, Lockheed Martin (NYSE: LMT) is the world's biggest defense company . It's also a major player in space.
Lockheed Martin builds the Orion spacecraft that will one day carry NASA astronauts (back) to the moon, making it an integral part of NASA's Project Artemis. Lockheed owns half of United Launch Alliance, still the preferred provider of satellite launches to the U.S. government (despite SpaceX's best efforts). In addition to its own efforts in space, Lockheed is also a sort of incubator for the businesses of other, smaller space companies .
Lockheed was one of the early investors in Rocket Lab USA , for example, a space start-up I own a piece of. Through its Lockheed Martin Ventures arm, Lockheed has a stake in small rocket company ABL Space Systems, satellite company Hawkeye 360, and satellite manufacturer Terran Orbital, according to data from S&P Global Market Intelligence . It's also a customer of some of these companies. Last month, for example, Terran Orbital stated that it has contracts to build more than 100 satellites for Lockheed Martin.
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Lockheed Martin Gives Thumbs Up to 1 Tiny Space Stock