Lockheed Martin Corp. (LMT), Wednesday announced that it has received a contract to build the next-generation GeoXO Lightning Mapper instruments for NASA's National Oceanic and Atmospheric Administration, which would be designed to detect and locate lightning flashes.
The company added that the initial contract is valued at approximately $297 million for two instruments with options for two additional instruments.
Matthew Mahlman, director of Weather, Earth Science and Climate Intelligence at Lockheed Martin, explained, "This advanced technology will give meteorologists a tool to create greater lead time in alerting people to severe storms and dangerous weather situations such as rapid intensifying hurricanes."
Currently, Lockheed Martin's stock is trading at $567.32, up 0.05 percent on the New York Stock Exchange.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.