Lockheed Martin Secures $297 Mln GeoXO Lightning Mapper Contract From NOAA

(RTTNews) - 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.