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| Lockheed inks $6B Army interceptor missile contract |
| 2020-05-06 |
| [Washington Bus Journal] Lockheed Martin Corp. (NYSE: LMT) secured a $6 billion contract Thursday to provide Patriot Advanced Capability-3 (PAC-3) missiles and support services to the Army. The PAC-3 serves as an interceptor missile system designed to defend against enemy ballistic missiles, cruise missiles and aircraft. The new contract will cover production of the Bethesda defense giant’s Missile Segment Enhancement version (PAC-3 MSE) of the missile program, which provides increased range, precision and mobility than previous iterations of the interceptor deployed in 2015. The firm-fixed-price contract calls for hardware, manufacturing, testing efforts, ground support equipment and other services to produce the armament of the air-defense, guided missile system. The Department of Defense’s contract award announcement didn’t detail how many PAC-3 missiles the Army would procure, but the missiles will be delivered across fiscal 2021, 2022 and 2023, according to a Lockheed news release. Work on the contract is expected to be completed by June 30, 2027. The contract comes as the Missile Defense Agency also tapped Lockheed Thursday for a $618 million follow-on award to provide logistics and support services for the terminal high altitude area defense (THAAD) system, another ballistic missile defense system produced by the contractor. That indefinite-delivery/indefinite-quantity contract calls for "logistics performance requirements; maintenance; supply; training and training support; packaging, handling, storage and transportation; forward stationing for theater support; logistics information capabilities; product assurance; safety; missile support; security; and engineering services" and will have a five-year ordering period beginning immediately. |
| Posted by:Besoeker |
| #1 Apr 30, 2020: Lockheed Martin's PrSM Proves Reliability... advances missile closer to early Army acquisition of new long-range capabilities. LM successfully tested its next-generation long-range missile designed for the Army's Precision Strike Missile (PrSM) program at White Sands Missile Range. |
| Posted by: b 2020-05-06 07:39 |