Lockheed Wins $66M THAAD Follow-On IDIQ

Lockheed Martin Corp. (NYSE: LMT) has won a $66 million follow-on contract from the U.S. Missile Defense Agency to continue developing an air and missile defense system.

The Bethesda, Md.-based contractor said it won the five-year, indefinite-delivery/indefinite-quantity contract to further develop the Terminal High Altitude Area Defense system.

Work under the new follow-on award includes three years of engineering technical services for flight test planning, laboratory maintenance, studies and threat assessments.

The company won a $514 million follow-on in February to conduct THAAD flight and ground testing.

THAAD has completed 12 flight tests since 2005, the latest occurring at the Kauai, Hawaii-based Pacific Missile Range Facility.

Soldiers from the 32nd Army Air and Missile Defense Command participated in the test.

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