What Happened
Massive Deal Quadruples Production Of Terminal High Altitude Defense System
The Missile Defense Agency has awarded Lockheed Martin a $35 billion contract to quadruple production of its Terminal High Altitude Area Defense (THAAD) interceptors over a seven-year period. The company said the contract reflects a shared vision with the Department of Defense to strengthen America’s defense capabilities through a transformational shift to multiyear procurement. The deal comes after Lockheed Martin established agreements to increase production capacity for other systems, including PAC-3 MSE and Precision Strike Missile. Work on the THAAD contract will be performed in several locations, including Dallas, Texas, and Sunnyvale, California. This development was first reported by Breaking Defense.