U.S. Army awards new contract to Lockheed Martin for PAC-3 MSE interceptors

Lockheed Martin (NYSE: LMT) received a $6.07 billion contract from the U.S. Army for the production of Patriot Advanced Capability-3 (PAC-3) Missile Segment Enhancement (MSE) interceptors and associated equipment, to be delivered across FY21, FY22 and FY23 contract years. The contract calls for the production and delivery of PAC-3 MSE interceptors, launcher modification kits, associated equipment and non-recurring efforts to support the United States and global customers.

“This contract demonstrates our customer’s continued confidence in our ability to deliver unmatched Hit-to-Kill technology that defeats the ever-expanding global threats of today and tomorrow,” said Scott Arnold, vice president, Integrated Air & Missile Defense at Lockheed Martin Missiles and Fire Control. “PAC-3 MSE is one of the most capable multi-mission interceptors, enabling our customers to defend against advanced tactical ballistic missiles, cruise missiles and aircraft.”

To meet customer demand and increase production capacity, Lockheed Martin is currently building an 85,000-square-foot expansion at the Camden, Arkansas, facility where PAC-3 MSE interceptors are assembled. The building is expected to be complete by fourth quarter 2021, with operations beginning in first quarter 2022. Ten nations – the United States, Qatar, Japan, Romania, Poland, the United Arab Emirates, Sweden, Korea, Bahrain and Germany – have signed agreements to procure PAC-3 MSE interceptors.

SOURCE: LOCKHEED MARTIN