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Lockheed Martin Skunk Works (NYSE:LMT) and BAE Systems FalconWorks (OTC:BAESY) announced at the DSEI defense conference in London that they will partner on the development of uncrewed autonomous air systems.
The collaboration will combine their research and prototyping divisions to create modular aircraft designed for rapid deployment and multiple mission types.
Lockheed Martin Skunk Works is the official name for Lockheed Martin’s Advanced Development Programs, a highly classified division responsible for pioneering research and the development of groundbreaking aircraft and exotic technologies aimed at advancing U.S. national security.
FalconWorks is a specialized advanced research and innovation division within BAE Systems' Air sector.
The project will begin with an electronic warfare and strike platform, with designs adaptable for air, ground, sea, and cargo aircraft launches. Executives said the systems are intended to complement crewed aircraft and expand military flexibility.
Company leaders said the venture aims to deliver cost-effective systems capable of rapid fielding. “We’re pleased to join forces with BAE Systems, combining our expertise in rapid prototyping and advanced development to deliver game-changing capabilities,” said OJ Sanchez, vice president and general manager at Lockheed Martin Skunk Works.
Militaries are increasingly pursuing hybrid fleets of manned and unmanned assets to increase combat capacity while managing costs. Dave Holmes, managing director of BAE’s FalconWorks, said the partnership will provide “disruptive capabilities that can make a real difference” for defense customers facing evolving battlefield demands.
Lockheed Martin’s announcement comes as the company faces legal challenges. A shareholder class action tied to a securities fraud investigation seeks to recover billions in alleged losses. Additional details are outlined in this report on Lockheed Martin’s investor class action.
Investors tracking the sector often look to exchange-traded funds, such as the iShares U.S. Aerospace & Defense ETF (BATS:ITA) and the SPDR S&P Aerospace & Defense ETF (NYSE:XAR).
Price Action: At last check Tuesday, LMT shares were trading lower by 1.03% to $459.11 premarket.
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