11 Best Military Drone Stocks to Buy According to Hedge Funds

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2. Lockheed Martin Corporation (NYSE:LMT)

Number of Hedge Fund Holders: 73

Lockheed Martin Corporation (NYSE:LMT) is among the 11 Best Military Drone Stocks to Buy According to Hedge Funds. On September 26, the company announced that its subsidiary, Sikorsky, had received a five-year contract from the U.S. Navy, valued at nearly $11 billion, to build up to 99 CH-53K King Stallion helicopters for the Marine Corps.

The defense company said this is the largest order to date for the aircraft and will ensure consistent delivery of the helicopter between 2029 and 2034. It will also help in reinforcing America’s industrial base through the sustainment of thousands of production jobs at Sikorsky and its supply chain.

Rich Benton, SVP and GM at Lockheed Martin Corporation (NYSE:LMT)’s Sikorsky, stated the following on the contract award:

“This award reflects trust and confidence in Sikorsky to deliver these technologically advanced, heavy-lift helicopters that will revolutionize the Marine Corps’ operational capabilities by adding unrivaled power, performance, survivability and dependability to the fleet. The multi-year contract enables Sikorsky to partner with the Department of the Navy to drive long-term affordability, optimize production efficiencies and stabilize our supply chain and workforce, ensuring the Marines maintain the strategic advantage with the CH-53K in a rapidly evolving battlespace.”

In other related news, last month the New Zealand government announced to spend NZ$2 billion to buy five MH-60R Seahawk helicopters, manufactured by Lockheed Martin Corporation (NYSE:LMT)’s Sikorsky unit.

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