Author: Matthew Nelson|| Date Published: March 25, 2020
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.
Aerospace and defense technology company Merlin has closed its business combination with Inflection Point Acquisition Corp. IV, a special purpose acquisition company…
Raytheon, an RTX business, has received a potential $212.1 million cost-plus-fixed-fee contract to provide operations and maintenance services for a relocatable over-the-horizon…
Jim Kelly, senior systems engineering manager at HPE Juniper Networking, said agentic artificial intelligence could help government agencies move toward…
AeroVironment has acquired Empirical Systems Aerospace, or ESAero, a producer of unmanned aircraft systems and advanced air mobility platforms, or AAM,…
