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Lockheed Gets $944M Contract to Supply Updated Patriot Interceptors to Army, Int’l Clients

Lockheed Martin (NYSE: LMT) has received a $944 million contract to produce and deliver updated Patiot missile defense systems to the U.S. Army, Romania and other foreign military sales clients.

The company said Thursday it will supply Patriot Advanced Capability-3 missiles and PAC-3 Missile Segment Enhancement interceptors along with launcher modification kits through the contract.

Scott Arnold, vice president and deputy of integrated air and missile defense at Lockheed’s missiles and fire control unit, said that PAC-3 and PAC-3 MSE work to help increase warfighters’ terminal air- and missile-defense capacities with the use of “hit-and-kill technology.”

PAC-3 interceptors are designed to protect assets and infrastructure from potential threats such as aircraft, ballistic and cruise missiles.

The system currently supports missile defense efforts in the U.S., Japan, South Korea, Taiwan, Netherlands, Kuwait and the United Arab Emirates.

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