US Awards Lockheed Martin $6Bln Patriot Missile Interceptor Contract - Pentagon

WASHINGTON (UrduPoint News / Sputnik - 01st May, 2020) Lockheed Martin has won more than $6 billion to produce interceptors and other equipment for the Patriot anti-aircraft and anti-missile defense system, the US Department of Defense said in a press release.

"Lockheed Martin Corporation [of] Grand Prairie, Texas, was awarded a $6,068,344,959 firm-fixed-price contract ...

to produce Phased Array Tracking Radar to Intercept on Target Advanced Capability-3 missiles," the release said on Thursday.

The contract also includes incidental services, hardware, facilities, equipment and all technical, manufacturing and testing efforts, missile segment enhancement configuration and associated equipment, the Defense Department added.

Work on the contract will continue over the next seven years with an estimated completion date of 2027, the release added.