Lockheed Lands $882M MDA Contract Modification for THAAD Missile Interceptors

lockheed martinLockheed Martin (NYSE: LMT) has received a potential three-year, $882 million contract modification from the Missile Defense Agency to build 20 additional lot 8 interceptors for the Terminal High Altitude Area Defense platform.

The company will also provide related production support services for MDA’s THAAD system under the fixed-price contract, the Defense Department said Thursday.

THAAD is a ground-based platform that works to allow the ballistic missile defense system to detect, intercept and neutralize ballistic missiles inside and beyond the atmosphere during the final flight phase.

The THAAD battery is composed of a launcher, interceptors, AN/TPY-2 X-band radar and a fire control tool that works to connect THAAD to BMDS and external-based command-and-control elements.

Contract work will occur in Texas, Alabama and Arkansas through Sept. 30, 2019, according to DoD.

MDA will obligate $198.7 million from fiscal 2016 procurement funds at the time of award.

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