Lockheed Martin Obtains $1.5 Bln Missile Interceptor Deal - Quick Facts

(RTTNews) - Lockheed Martin Corp. (LMT) said Friday that the United States and allied military forces are set to upgrade key missile defense capabilities under a new $1.5 billion contract for production and delivery of 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, associated equipment and spares for the Republic of Korea, the Kingdom of Saudi Arabia, Qatar, Taiwan and the United Arab Emirates.

The PAC-3 Missile is a high velocity interceptor that defends against incoming threats including tactical ballistic missiles, cruise missiles and aircraft using hit-to-kill technology.

PAC-3 currently provides missile defense capabilities for six nations - the U.S., the Netherlands, Germany, Japan, United Arab Emirates and Taiwan; and Lockheed Martin is on contract with four additional nations - Kuwait, Qatar, South Korea and Saudi Arabia.