Lockheed Martin wins $211 million UAE defense contract

Investing.com - Lockheed Martin Corp. (NYSE: LMT) received a $211.4 million contract modification from the U.S. Department of War to manufacture missile defense launchers for the United Arab Emirates, the agency announced today.

The modification increases the total value of the original 2019 contract to $1.05 billion. Lockheed Martin Space in Sunnyvale, California, will produce new Configuration 3 THAAD Launchers under the Foreign Military Sales agreement.

The performance period runs from August 2026 through January 2031. The Missile Defense Agency in Huntsville, Alabama, is the contracting activity.

The agency solicited one offer and received one offer for the modification. UAE Foreign Military Sales funds totaling $211.4 million are being obligated under this contract change.

THAAD, or Terminal High Altitude Area Defense, is a missile defense system designed to intercept ballistic missiles. The contract modification was awarded under case HQ0147-19-C-5001 with modification number P00082.

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