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  • Friday, April 26, 2024

Lockheed Receives $1.8B Contract to Build PAC-3 Missiles for Army, Foreign Military Clients


Lockheed Martin (NYSE: LMT) has landed a potential $1.8B contract to produce and deliver missile interceptor systems to the U.S. Army and foreign military sales customers.

The company said Friday it will supply Patriot Advanced Capability-3 and PAC-3 Missile Segment Enhancement interceptors along with launcher modification and related kits.

Jay Pitman, vice president of PAC-3 programs at Lockheed’s missiles and fire control business, said the two weapons are designed to help military clients address security threats with the use of hit-to-kill technology.

The interceptors work to counter incoming aircraft, cruise and tactical ballistic missile threats.

Germany, Kuwait, Japan, Qatar, South Korea, Saudi Arabia, Taiwan, the Netherlands, United Arab Emirates, Poland, Sweden and Romania have ordered PAC-3 and PAC-3 MSE as part of missile defense modernization efforts.

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