Lockheed Secures $933M for US, Saudi Missile Defense Tech Production Services

Jeff Brody

Lockheed Martin (NYSE: LMT) has secured a six-year, $932.8M contract modification from the Missile Defense Agency to manufacture ballistic missile interceptors for the U.S. government and Saudi Arabia to fullfill a foreign military sales case requirement.

The company’s missiles and fire control unit will provide Terminal High Altitude Area Defense systems and one-shot devices under fixed-price incentive line items on a previously awarded contract, the Department of Defense said Tuesday.

DoD noted the modification brings the contract’s total value from $5.37B to $6.30B.

The U.S. will provide $327.4M in fiscal 2020 procurement funds and Saudi will allocate $605.3M in FMS funds for the award. DoD expects work to conclude by April 1, 2026.

THAAD is designed to work with other ballistic missile defense platforms and uses a hit-to-kill technology to counter short and medium ballistic missile threats.

Check Also

Jon Hill Director MDA

Vice Adm. Jon Hill on MDA’s Move to Pause Defensive Hypersonic Missile Design Program

Vice Adm. Jon Hill, director of the Missile Defense Agency, said MDA has decided to delay the defensive hypersonic missile design effort to focus on near-term options, Defense News reported Tuesday.

Fisher Industries

Fisher Industries Lands Potential $290M CBP Laredo Sector Border Construction Contract

Fisher Industries has received a potential $289.5M contract to build an additional 17 miles of border wall infrastructure for the U.S. Border Patrol Laredo Sector's area of responsibility in Webb County, Texas.