Lockheed Martin Receives $1.45 Billion Contract for PAC-3 Missiles

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Dec 22, 2016, 06:31 ET

DALLAS, Dec. 22, 2016 /PRNewswire/ -- The United States and allied military forces will upgrade their missile defense capabilities under a new $1.45 billion contract for production and delivery of Lockheed Martin [NYSE: LMT] Patriot Advanced Capability-3 (PAC-3) and PAC-3 Missile Segment Enhancement (PAC-3 MSE) interceptors.

The contract includes PAC-3 and PAC-3 MSE missile deliveries for the U.S. Army, and Foreign Military Sales of PAC-3 interceptors, launcher modification kits, associated equipment and spares for Qatar, the Republic of Korea, the Kingdom of Saudi Arabia, Taiwan and the United Arab Emirates.

"PAC-3 and PAC-3 MSE provide our customers and especially the deployed warfighter with unmatched terminal air- and missile-defense capabilities," said Scott Arnold, Lockheed Martin's vice president of PAC-3 programs. "PAC-3 and MSE are trusted and reliable interceptors that employ advanced hit-to-kill technology, enabling better accuracy, enhanced safety and improved lethality 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, the United Arab Emirates and Taiwan. Kuwait also is under contract to procure PAC-3 missiles.

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 employs approximately 98,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

SOURCE Lockheed Martin