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  • Thursday, November 14, 2024

Lockheed Awarded $50M Army Engineering Support Contract for Missile System Segment

Lockheed Martin‘s (NYSE: LMT) missiles and fire control business will provide engineering support for the development of a component intended to modernize a missile defense system segment under a $50 million contract from the U.S. Army.

Associated work on the THAAD 5.0 Patriot Advanced Capability-3 missile segment will be done at Lockheed MFC’s Grand Prairie, Texas, location through Dec. 31, 2025, the Department of Defense said Thursday.

The defense contractor received the contract following an online solicitation, under which it was the sole bidder.  

Army Contracting Command used fiscal 2023 missile procurement to obligate the full amount of the cost-plus-incentive-fee contract at the time of the award.

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