Army Awards Lockheed $497M for Missile Post-Production Service Extension

Lockheed Martin (NYSE: LMT) has received a two-year, $497.3M contract modification to continue providing post-production services for the U.S. Army’s missile support hub for the Patriot Advanced Capability-3 air defense system.

Army Contracting Command received one bid for the contract through an online solicitation process and will determine funding and work locations upon issuance of each order, the Department of Defense said Monday.

The PAC-3 system is designed to protect ground troops and military infrastructure against sophisticated aircraft and cruise and tactical ballistic missile threats.

Work under the modification is scheduled to conclude May 18, 2022.

Patriot, also known as Phased Array Tracking Radar to Intercept of Target, is a missile interceptor designed to defeat air-breathing threats as well as tactical ballistic and cruise missiles.

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