Lockheed Martin (NYSE: LMT) has secured a potential $459.2 million contract modification from the Missile Defense Agency to manufacture additional Lot 10 Terminal High Altitude Area Defense interceptor systems.
The Defense Department said Friday the modification exercises an option under a previously awarded contract and will include the delivery of associated production support services.
The modification increases the total value of the THAAD contract to approximately $1.3 billion from MDA funds obligated in 2017 and 2018, Lockheed noted.
THAAD supports the Ballistic Missile Defense System and helps defend allied forces, citizen population centers, infrastructure and military from potential ballistic missile threats.
Lockheed’s missiles and fire control business will perform work in Alabama, Arkansas, California and Texas through June 25, 2021.