Author: Matthew Nelson|| Date Published: August 31, 2020
Lockheed Martin (NYSE: LMT) has secured a $911.8M contract modification from the Missile Defense Agency to provide additional development and testing support for the Terminal High Altitude Area Defense system.
The company will help MDA conduct ground and flight tests of THAAD and manage the acquisition life cycle of the country's ballistic missile defense system, the Department of Defense said Friday.
MDA will provide completion schedules through the award of subsequent task orders.
The modification increases the ceiling value of the initial indefinite-delivery/indefinite-quantity contract from $2.33B to $3.25B.
THAAD is designed to intercept short and medium-range missiles using the system's hit to kill technology, according to Lockheed.
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