Lockheed Martin to Increase PAC-3 Missile Segment Enhancement Production Under New Framework Agreement

The Defense Department and Lockheed Martin have agreed to a framework for tripling PAC-3 production over seven years, with an initial capacity increase of 2,000 missiles per year. The contract award is still forthcoming, pending Congressional appropriations. According to Breaking Defense, the agreement marks a shift in how munitions production will be rapidly expanded and collaborative efforts with industry partners will be made. Lockheed Martin has committed to supporting necessary investments to drive the production increase, and both parties will participate in cost savings opportunities enabled by long-term demand certainty.