06 Oct 2022

Lockheed Books $273M Army Contract Modification for PAC-3 Missile Production Support

Lockheed Books $273M Army Contract Modification for PAC-3 Missile Production Support
Lockheed Martin (NYSE: LMT) has secured a $273 million contract modification to support the production of guided air and missile defense systems for the U.S. Army and foreign military sales customers.

The defense contractor will provide hardware, equipment and facilities, as well as technical, planning, management, manufacturing and testing services for the manufacturing of Phased Array Tracking Radar to Intercept on Target Advanced Capability-3 missiles, the Department of Defense said Thursday.

Work will be performed at various locations across the U.S. through Dec. 31, 2027. It will support customers including the governments of the Netherlands, Bahrain, Germany, Kuwait, Poland, Qatar, Romania, Saudi Arabia and South Korea.

Army Contracting Command obligated $133.8 million in fiscal 2022 missile procurement and FMS funds at the time of award.

The PAC-3 system is designed with hit-to-kill capability that allows warfighters to defend against target aircraft, cruise missiles and tactical ballistic missiles.

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