Lockheed Martin gets USD 528m THAAD missile-defense contract

The Missile Defense Agency said it has awarded Lockheed Martin (NYSE: LMT) a USD 528 million contract for production and delivery of interceptors for the Terminal High Altitude Area Defense (THAAD) system.

The new interceptors will support a growing number of US Army THAAD units.

THAAD is a key element of the Ballistic Missile Defense System (BMDS), and is highly effective at protecting America´s military, allied forces, citizen population centers and critical infrastructure from short- to medium-range ballistic missile attacks.

THAAD interceptors employ Lockheed Martin´s proven “hit-to-kill” technology to destroy missile threats inside and outside the atmosphere. The system is rapidly deployable, mobile, and also interoperable with all other BMDS elements, including Patriot/PAC-3, Aegis, forward-based sensors and the Command, Control, Battle Management and Communications system. These unique capabilities make THAAD an important addition to air and missile defense architectures around the world.

The US Army activated the fifth of seven programmed THAAD batteries at the end of 2015. Lockheed Martin delivered the 100th THAAD interceptor earlier in 2015. The United Arab Emirates was the first international partner to procure the THAAD system with a contract awarded in 2011.

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 126,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.