DCX Systems announced a significant international order worth Rs 460.30 crore from Lockheed Martin USA for the supply of electrical assemblies, the company informed on November 8.
The high-value contract will help the company establish itself as capable of meeting the demands of top global defence contractors. DCX Systems had previously executed an order from Lockheed Martin worth Rs 16.53 crore during FY24, which the company had said helped pave the way for future collaboration.
The company also has a MOU signed with Israeli Aerospace India Service Private Limited for supply and repair services, enhancing MRO capabilities. The company's order book stands at Rs 1,937 crore, with a pipeline of orders that it says is expected to grow further.
In January this year, DCX Systems had raised Rs 500 crore through a Qualified Institutional Placement (QIP) of shares.
DCX Systems cites India's defence sector reaching a value of $70 billion by 2030, on the back of “Make in India” and higher foreign direct investment in the sector.
Lockheed Martin has a tie up with the Tata Advanced Systems for the C-130J Super Hercules airlifter, as part of which it will set up a Maintenance, Repair and Overhaul (MRO) facility in India, and look to expand C-130J manufacturing and assemblies locally.
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