What Happened
Defense Giant Wins Major Contract for Advanced Missile System
Lockheed Martin has secured a $53.9 billion Army contract modification for the production of PATRIOT Advanced Capability-3 (PAC-3) missiles. The modification converts a one-year undefinitized contract action into a seven-year multiyear procurement, increasing the not-to-exceed ceiling and encompassing all hardware, equipment, and manufacturing efforts required to produce PAC-3 Missile Segment Enhancement missiles. Work will be performed in multiple locations across the US, with an estimated completion date of March 31, 2035. This contract was first reported by ClearanceJobs.