CLAIM #37343 · Lockheed Martin Corporation (LMT) · 2022Q4 earnings call · Jan 24, 2023 · due Dec 31, 2025
“Sikorsky remains one of two competitors for the other component of the Future Vertical Lift initiative that's called the Future Attack Reconnaissance Aircraft, or FARA, which is currently expected to be awarded in 2025.”
James Taiclet · CEO
In context
“fense Agency, providing the framework of software development tools, process workflows, scripts and environments. The delivery was ahead of schedule and is a critical step on the path for flight testing and fielding. This program remains a focused competition for Lockheed Martin with the first NGI forecast for delivery in 2027. With regard to the Future Long Range Assault Aircraft, or FLRAA, competition, we were disappointed in the U.S. Army's decision. And upon review, we determined a formal protest by Sikorsky on behalf of Team Defiant to be the best course of action. We continue to believe that Defiant X with its increased speed, range, manoeuvrability and survivability is the transformational and most cost-effective aircraft that best meets the selection criteria for this competition. Sikorsky remains one of two competitors for the other component of the Future Vertical Lift initiative that's called the Future Attack Reconnaissance Aircraft, or FARA, which is currently expected to be awarded in 2025. The first RatorX-competitive prototype is over 90% complete and has more than 65% of its acceptance testers already done. Sikorsky is the only company with a representative FARA technology demonstrator aircraft. I saw it fly down at West Palm Beach a few months ago. It's amazing, the S97 RAIDER, which has completed more than 110 flight hours. In November, Norway became the first international customer for our new TPY-4 radar. It's the first software-defined radar that outperforms in target detection, mission diversity and transportability. Norway is going to receive eight of Lockheed Martin's TPY-4 radar with options for three additional radar. Finally, backlog ended 2022 at $150 billion with book-to-bill of 1.2 times and increases in every business area across Lockheed Martin. This stron”
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SEC filings for LMT ↗ · Claim quote is verbatim from the 2022Q4 earnings call.