LM Receives $944 M Contract for PAC-3 Missiles

December 21, 2017

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The United States and allied military forces will upgrade their missile defense capabilities under a new $944 million contract for production and delivery of Lockheed Martin (NYSE: LMT) Patriot Advanced Capability-3 (PAC-3) and PAC-3 Missile Segment Enhancement (PAC-3 MSE) interceptors.

The contract includes PAC-3 and PAC-3 MSE interceptors and launcher modification kits for the U.S. Army, Romania and other Foreign Military Sales customers.

"PAC-3 and PAC-3 MSE provide our customers and especially the deployed warfighter with unmatched terminal air- and missile-defense capabilities," said Scott Arnold, vice president and deputy of Integrated Air and Missile Defense at Lockheed Martin Missiles and Fire Control. "PAC-3 and PAC-3 MSE are trusted and reliable interceptors that employ advanced hit-to-kill technology, enabling better accuracy, enhanced safety and improved lethality when it matters most."

The PAC-3 is a high-velocity interceptor that defends against incoming threats, including tactical ballistic missiles, cruise missiles and aircraft. PAC-3 currently provides missile defense capabilities for the U.S., Germany, Kuwait, Japan, the Republic of Korea, Taiwan, the Netherlands, the United Arab Emirates and others.  

Building on the combat-proven PAC-3, the PAC-3 MSE uses a two-pulse solid rocket motor that increases altitude and range to defeat evolving threats.

Source : Lockheed Martin Corporation (NYSE: LMT)