Home / Contract Awards / Lockheed Gets $524M US, Intl Patriot Missile Contract Modification

Lockheed Gets $524M US, Intl Patriot Missile Contract Modification

Lockheed Martin (NYSE: LMT) has received a three-year, $523.8 million contract modification for the supply of updated Patriot missiles to the U.S. Army as well as Qatar, Saudi Arabia and Romania.

The company will provide Patriot Advanced Capability-3 enhancement and cost reduction initiative missiles along with complementary support equipment through the modified domestic and foreign military sales contract, the Defense Department said Tuesday.

Lockheed will perform work under the modification at various locations in Texas, Alabama, Arizona, Massachusetts and Florida, through Jan. 31, 2021.

PAC-3 is designed to intercept adversarial tactical ballistic missile, aircraft and cruise missile threats.

Check Also

Cubic Combines Traffic Mgmt Brands to Establish New Business; Jon Newhard Named Cubic ITS Lead

Cubic (NYSE: CUB) has formed a new business through the integration of its U.K.-based intelligent transport systems segment with its traffic management brands GRIDSMART and Trafficware.

Raytheon Lands $129M IDIQ to Support Air Force Sensor Operations, Maintenance

Raytheon (NYSE: RTN) has won a two-year, $128.5M contract to help the U.S. Air Force maintain and operate mobile sensors at radar facilities. The company will maintain operational readiness of Cobra King and Gray Star radar systems that work to provide situational awareness on a 24-hour basis, the Department of Defense said Monday.