Lockheed Martin (LMT) awarded $2.06 billion contract for THAAD missile defense

Investing.com -- Lockheed Martin Corporation (NYSE: LMT) Missiles and Fire Control has been awarded a $2.06 billion contract modification for the production of Terminal High Altitude Area Defense (THAAD) Interceptors, the U.S. Department of Defense announced Monday.

The modification increases the total value of the previously awarded contract from $8.35 billion to $10.42 billion. The contract will support the U.S. government's missile defense capabilities.

Under the terms of the agreement, Lockheed Martin will produce THAAD components under fixed-price incentive contract line-item numbers. The work will be performed across multiple locations including Dallas, Texas; Sunnyvale, California; Troy, Alabama; and Camden, Arkansas.

The project has an expected completion date of December 1, 2029. The DoD noted that one offer was solicited for this contract modification, and one offer was received.

The Missile Defense Agency in Huntsville, Alabama, is serving as the contracting activity for this award. The Pentagon has obligated $284.92 million in fiscal 2024 and fiscal 2025 procurement funds at the time of the award.

You May Also Be Interested In

• Lockheed Martin wins $150 million in defense contracts
• Starlo to acquire Mexico silver project in reverse takeover deal
• Grindr settles UK privacy lawsuit for £26 million