Lockheed Awarded $6.07B to Produce Army PAC-3 SME Interceptors, Equipment

Lockheed Martin (NYSE: LMT) has secured a $6.07B contract to manufacture PAC-3 Missile Segment Enhancement interceptor systems for the U.S. Army and international defense customers from fiscal year 2021 through FY 2023.

The company said Thursday it will also provide associated missile equipment, launcher modification kits and non-recurring support as part of the contract.

The PAC-3 MSE system received Milestone C approval in early 2014 and reached initial operational capability in 2016.

Lockheed added it began an 85K-square-foot facility expansion project in Camden, Ark., in a move to increase PAC-3 MSE production capacity and expects to complete the construction work in 2021’s fourth quarter.

The contract includes foreign military sales to the following nations: