Lockheed Martin Corporation (NYSE: LMT) plans to considerably boost its investment in space innovation. The management of LMT feels optimistic about the prospects of the space technology business.
Lockheed’s strategic development might be centered on space. In early August, its venture arm announced intentions to quadruple its investment in technological businesses to $400 million, with the majority of the funds going towards space. Lockheed Martin Corporation (LMT) executives will conduct a discussion on this matter this week. Perhaps further decisions in this area will be made.
LMT was already aggressively investing in space businesses, it should be mentioned. For example, the corporation has invested in ABL, a small satellite manufacturer, and Orbit Fab, a startup that develops technologies to refuel satellites.
Lockheed Martin currently claims that its venture capital investments should be utilized not just to produce money, but also to acquire technology that may be used in the company’s own initiatives.
Lockheed is presently focusing on some of its most intriguing areas, including new spacecraft sensors, machine intelligence, and quantum computing for space applications. The emphasis will also be on technology that may be applied in Lockheed’s defense sector, such as integrating satellite intelligence and communications into the situational awareness systems of the F-35.
Lockheed previously sought to acquire space technology by purchasing Aerojet Rocketdyne Holdings, Inc. (AJRD). Startups might provide Lockheed Martin Corporation (LMT) with a more varied collection of technology. Furthermore, it indicates that LMT does not aim to relinquish its position as a worldwide technology leader.
Lockheed Martin Corporation (NYSE: LMT) shares are up 23.24% year to date (YTD) and are up 0.87% or $3.77 in the most recent trading session. The stock’s trailing 12-month performance, on the other hand, is about 22.36% higher. The stock is up 10.56% in the last six months and up 0.65% in the last three months. When we look at the shorter timeframe, the week performance is up 3.34% and the month performance is up 9.95%.