Lockheed Martin‘s (NYSE: LMT) missiles and fire control business has received a $145.3 million contract modification from the Missile Defense Agency to manufacture additional Terminal High Altitude Area Defense systems.
The modification increases the contract’s potential value to $1.4 billion and covers the production of lot 10 THAAD interceptors, one-shot devices and product support services, the Defense Department said Wednesday.
Work will run through Aug. 31, 2021, MDA will use fiscal 2018 procurement funds to cover the full obligated amount at the time of award.
Lockheed designed THAAD to help defend against short- and medium-range ballistic missile threats.
