What Happened
Massive Seven-Year Procurement Boosts Patriot Air Defense Readiness
The US Army has awarded Lockheed Martin a $53.86 billion firm-fixed-price contract modification for the PATRIOT Advanced Capability-3 Production program. The seven-year contract covers the production of PAC-3 Missile Segment Enhancement missiles, which are used to defeat advanced tactical ballistic missiles, cruise missiles, and sophisticated aircraft threats. The contract aims to provide greater production stability and planning certainty for the US Army, Lockheed Martin, and the industrial supply chain. This development was reported by an unknown source.