Lockheed Martin Receives $1.45 Billion Contract for PAC-3 Missiles
23 December 2016
The United States and allied military forces will upgrade their missile defense capabilities under a new $1.45 billion 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 missile deliveries for the U.S. Army, and Foreign Military Sales of PAC-3 interceptors, launcher modification kits, associated equipment and spares for Qatar, the Republic of Korea, the Kingdom of Saudi Arabia, Taiwan and the United Arab Emirates.
"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, Lockheed Martin's vice president of PAC-3 programs. "PAC-3 and 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 Missile 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 six nations – the U.S., the Netherlands, Germany, Japan, the United Arab Emirates and Taiwan. Kuwait also is under contract to procure PAC-3 missiles.
Building on the combat-proven PAC-3, the PAC-3 MSE missile uses a two-pulse solid rocket motor that increases altitude and range to meet evolving threats.