IPG Photonics Receives Order From Lockheed Martin for CROSSBOW™ High-Energy Laser Systems [Yahoo! Finance]
Lockheed Martin Corporation (LMT)
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Source: Yahoo! Finance
technology, announced today that it has received an order from Lockheed Martin Corporation for the delivery of its CROSSBOW™ high-energy laser counter-UAS defense systems. The order is valued at approximately $10 million and is expected to be delivered over the next several quarters. “We are encouraged by the continued success of CROSSBOW, our scalable, cost-effective laser defense system for countering smaller unmanned aircraft threats. This follow-on order from Lockheed Martin reflects both the clear demand for deployable directed energy solutions and the readiness of our product,” said Dr. Mark Gitin, Chief Executive Officer of IPG Photonics. Contact Eugene Fedotoff Senior Director, Investor Relations IPG Photonics Corporation efedotoff@ipgphotonics.com About IPG Photonics Corporation IPG Photonics Corporation is the leader in high-power fiber lasers and amplifiers used primarily in materials processing and other diverse applications. The Company's mission is to dev
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