Lockheed Martin Receives $1.1 Billion Contract for PAC-3 Missiles

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Dec 14, 2015, 05:58 ET

Lockheed Martin has received a $1.1 billion contract for production and delivery of PAC-3 (shown) and PAC-3 MSE missiles.

DALLAS, Dec. 14, 2015 /PRNewswire/ -- The United States and allied military forces will upgrade their missile defense capabilities under a new $1.1 billion contract for production and delivery of Lockheed Martin [NYSE: LMT]-built Patriot Advanced Capability-3 (PAC-3) missiles and PAC-3 Missile Segment Enhancement (PAC-3 MSE) missiles.

The contract includes PAC-3 and PAC-3 MSE interceptor deliveries for the U.S. Army, and Foreign Military Sales of PAC-3 interceptors, Launcher Modification Kits, associated equipment and spares for the Kingdom of Saudi Arabia, the Republic of Korea and Qatar.

"Our PAC-3 and PAC-3 MSE interceptors are the most trusted and capable terminal air defense missiles in the world, and we're proud to support our customers as they protect soldiers, citizens and infrastructure from adversary threats," said Scott Arnold, Lockheed Martin's vice president of PAC-3 programs. "All Lockheed Martin-built missile defense interceptors utilize advanced hit-to-kill technology enabling better accuracy, enhanced safety and improved reliability when it matters most."

The PAC-3 Missile is a high-velocity interceptor that defends against incoming threats including tactical ballistic missiles, cruise missiles and aircraft. PAC-3 currently provides missile defense capabilities for six nations – the U.S., the Netherlands, Germany, Japan, United Arab Emirates and Taiwan. In addition to the three countries included under this contract, Lockheed Martin is also under contract with Kuwait.

Building on the combat proven PAC-3, the PAC-3 MSE missile uses a two-pulse solid rocket motor that increases altitude and range to meet evolving threats.

For additional information, visit our PAC-3 and PAC-3 MSE web pages.

About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that – with the addition of Sikorsky – employs approximately 126,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

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SOURCE Lockheed Martin