Lockheed to Receive $1.96B in UAE Missile Interceptor Deal

Lockheed Martin (NYSE: LMT) has confirmed a foreign military sales agreement reported last week by Bloomberg, announcing it has won a $1.96 billion contract to supply two Terminal High Altitude Area Defense weapon systems to the U.S. Missile Defense Agency.

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Lockheed said in its release it will provide the THAAD weapon systems and maintenance and support equipment under an agreement between the U.S. and United Arab Emirates.

The company said this is the first foreign military sale of the THAAD system. Currently, the company is under contract to provide four THAAD batteries for the U.S. Army.

Bloomberg previously reported that the U.S. government would sell up to $3.49 billion of Lockheed’s missile interceptors to the UAE.

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