Author: Matthew Nelson|| Date Published: April 1, 2021
Lockheed Martin‘s (NYSE: LMT) missiles and fire control business has secured a $610.5 million contract from the Missile Defense Agency to continue providing a range of support services for Saudi Arabia’s Terminal High Altitude Area Defense system to fulfill a foreign military sales requirement.
Work under the THAAD FMS Phase II contract will include ground production, training, engineering, obsolescence and facility and software support services, the Department of Defense said Wednesday.
The company will also perform system integration, checkout and maintenance work at various locations within and outside the continental U.S.
DOD noted the performance period will begin on April 1 and continue through Aug. 31, 2027.
Lockheed was awarded a $945.9 million non-competitive contract in March 2019 for the first phase of anti-missile products and services to Saudi Arabia.
THAAD is designed to intercept short and medium-ranged ballistic missile threats, according to Lockheed.
Lockheed is sponsoring the Potomac Officers Club’s 2nd Annual CIO Forum on April 7 and JADO Forum on April 15. Visit the Potomac Officers Club Events page to learn more about these virtual events.
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