Lockheed Martin : U.S. Army Awards $6.07 Billion Contract To Lockheed Martin For PAC-3 MSE Production, Associated Equipment
May 04, 2020 at 11:34 am EDT
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DALLAS - Lockheed Martin (NYSE: LMT) received a $6.07 billion contract from the U.S. Army for the production of Patriot Advanced Capability-3 (PAC-3) Missile Segment Enhancement (MSE) interceptors and associated equipment, to be delivered across FY21, FY22 and FY23 contract years.
The contract calls for the production and delivery of PAC-3 MSE interceptors, launcher modification kits, associated equipment and non-recurring efforts to support the United States and global customers.
'This contract demonstrates our customer's continued confidence in our ability to deliver unmatched Hit-to-Kill technology that defeats the ever-expanding global threats of today and tomorrow,' said Scott Arnold, vice president, Integrated Air & Missile Defense at Lockheed Martin Missiles and Fire Control. 'PAC-3 MSE is one of the most capable multi-mission interceptors, enabling our customers to defend against advanced tactical ballistic missiles, cruise missiles and aircraft.'
To meet customer demand and increase production capacity, Lockheed Martin is currently building an 85,000-square-foot expansion at the Camden, Arkansas, facility where PAC-3 MSE interceptors are assembled. The building is expected to be complete by fourth quarter 2021, with operations beginning in first quarter 2022.
Ten nations - the United States, Qatar, Japan, Romania, Poland, the United Arab Emirates, Sweden, Korea, Bahrain and Germany - have signed agreements to procure PAC-3 MSE interceptors. For additional information, visit our website.
About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 110,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
Lockheed Martin Corporation specializes in the design, manufacturing and marketing of aeronautic, submarine, and aerospace systems. Net sales break down by activity as follows:
- sale of aeronautic systems (40.7%): military and civilian aircraft, primarily for government organizations;
- sale of helicopters, mission and electronic systems (24%): military and commercial helicopters, ships, sea and land-based missile defense systems, radars, sensors, sea and air-based mission and combat systems, training systems, cyber solutions, command, control and communication systems, surveillance and reconnaissance systems, simulation and training systems, etc.;
- sales of aerospace systems (18.7%): satellite systems, missile systems and space transport systems;
- sale of air defense and fire control systems (16.6%): air and missile defense systems, tactical missiles, precision strike weapons systems, fire control systems, etc. The group also offers support services for mission operations, preparation, technical support, integration services, etc.
Net sales break down by source of income into sales of products (83.3%) and services (16.7%).
Net sales are distributed geographically as follows: the United States (74.3%), Europe (9.5%), Asia/Pacific (8.3%), Middle East (5.8%) and other (2.1%).