Hello, Guest!
  • Thursday, April 25, 2024

Lockheed to Produce PAC-3 Missiles Under $2.4B Army Contract Modification

Lockheed Martin (NYSE: LMT) has booked a potential $2.45 billion contract modification from the U.S. Army to produce guided air and missile defense systems.

The aerospace and defense contractor will manufacture the Phased Array Tracking Radar to Intercept on Target Advanced Capability-3 missiles at its facility in Grand Prairie, Texas, through the end of December 2029, the Department of Defense said Friday.

Army Contracting Command is obligating the full contract amount using fiscal 2023 missile procurement and foreign military sales funds.

In September, Lockheed received a $273 million contract modification for PATRIOT Advanced Capability-3 missile production support.

The PAC-3 system comes with a hit-to-kill capability designed to protect ground forces and critical assets from cruise missiles, advanecd aircraft and tactical ballistic missiles.

Video of the Day

Related Articles

Leidos Subsidiary Dynetics Lands $125M Army CEMA Support Contract; Jonathan Pettus Quoted Contract Awards

Leidos Subsidiary Dynetics Lands $125M Army CEMA Support Contract; Jonathan Pettus Quoted

Dynetics, a Leidos (NYSE: LDOS) company, has received a potential $124.7 million contract from the U.S. Army to provide cyber electromagnetic activities support for the service branch’s missile and space program executive office. Dynetics will provide CEMA resiliency support to enable the Army’s air and missile defense weapon systems to counter cyberattacks and protect U.S.

Alicia Calef Joins Parsons as Operations SVP for Engineered Systems Executive Moves

Alicia Calef Joins Parsons as Operations SVP for Engineered Systems

Alicia Calef, a two-decade veteran of Raytheon Technologies (NYSE: RTX), has joined Parsons (NYSE: PSN) to serve as senior vice president of operations for engineered systems. In a LinkedIn post, Calef said she will work with the business president and sector leaders to advance growth initiatives. She will lead strategic and tactical operations to meet

Video Interview: Riverside Research COO Alka Bhave Shares Federal R&D Landscape Insights News

Video Interview: Riverside Research COO Alka Bhave Shares Federal R&D Landscape Insights

The Department of Defense’s fiscal year 2023 budget request includes the largest ever increase in spending for research and development. The $130.1 billion investment request is more than 9.5 percent over the fiscal year 2022 enacted level, and it represents a major milestone in the DOD’s modernization and innovation efforts. To find out more about