A significant advancement in aerial combat technology was unveiled by defense contractor Lockheed Martin on November 19, 2025. In a demonstration at Nevada’s Nellis Air Force Base, a pilot operating an F-22 Raptor successfully commanded an unmanned aerial system (UAS) during flight. This milestone, achieved by the company’s renowned Skunk Works division, signals a potential transformation in future warfare capabilities.
Financial Forecasts Revised Upward
Coinciding with this technological achievement, Lockheed Martin received a vote of confidence from financial analysts. Seaport Research Partners revised its earnings projection upward on November 19, setting its 2025 forecast at $28.11 per share. This new estimate surpasses the market consensus of $27.15 per share, reflecting growing optimism about the company’s financial trajectory.
The improved outlook follows a stronger-than-anticipated third-quarter performance:
– Earnings per share: $6.95 (surpassing expectations of $6.33)
– Revenue: $18.61 billion (representing 8.8% year-over-year growth)
– Order backlog: Record $179 billion
This substantial backlog, equivalent to more than two and a half years of revenue, provides exceptional visibility into future earnings.
Autonomous Systems Reach New Frontier
The recent demonstration featured an intuitive cockpit interface that allowed the F-22 pilot to direct the drone’s operations seamlessly. After receiving commands, the UAS independently executed complex mission profiles.
OJ Sanchez, Vice President of Skunk Works, emphasized that “this breakthrough will fundamentally reshape air combat capabilities.” The system’s flexible architecture allows for integration with both existing and future military platforms, potentially creating new revenue opportunities as global armed forces transition toward networked, autonomous systems.
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Strategic Production Approach for F-35 Program
During the Dubai Airshow on November 19, company executives clarified their production strategy for the F-35 program. Despite increasing international demand, Lockheed Martin will maintain its current annual production capacity of 156 aircraft.
Steve Sheehy, Vice President for Strategy, stated: “Could we increase production? Yes. Will we? Currently, no.” This disciplined approach aims to prevent supply chain strain and maintain what the company describes as an “intelligent” production rate.
While the U.S. Air Force has targeted annual procurement of 100 F-35A aircraft by 2030, industry analysts question whether supply chains could support such acceleration without significant additional investment. Lockheed’s conservative stance appears designed to avoid quality compromises and manufacturing delays.
Shareholder Returns and Stock Performance
Demonstrating confidence in its financial health, the corporation raised its quarterly dividend to $3.45 per share, up from the previous $3.30. This increase brings the annual yield to approximately 2.9%, with a payout ratio around 77% – indicating sustainable cash flow generation.
Despite these positive developments, Lockheed’s shares have faced headwinds from program setbacks and budget uncertainties, declining 10.6% over the past twelve months. However, the stock has rebounded 15.8% from its July low of $410.11, suggesting renewed investor confidence may be taking hold.
The convergence of technological leadership in autonomous systems, prudent production management, and improving financial metrics positions Lockheed Martin for potential renewed momentum. The critical test will be the company’s ability to convert these innovations into tangible contract awards.
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