What Happened
Pentagon Awards Multiyear Contracts For Missile Defense Systems
The Department of Defense has announced a 7-year procurement agreement with Lockheed and General Dynamics to expand the production of components for the THAAD and PAC-3 MSE interceptor programs. The contracts, worth billions, will enable the manufacturers to invest in plants, tooling, and suppliers, as well as hire more personnel. According to the Under Secretary of War for Acquisition and Sustainment, the agreements represent a new approach to partnering with industry to outpace emerging threats. This development was first reported by an unknown source.