Lockheed Martin Strikes Gold: $2.8 Billion THAAD Deal Triumph!
The Missile Defense Agency (MDA) has recently authorized Lockheed Martin (NYSE: LMT) a subsequent developmental contract for the Terminal High Altitude Area Defense (THAAD) Weapon System. This indefinite delivery/indefinite quantity (IDIQ) contract promotes the ongoing enhancement of the THAAD Weapon System’s capabilities over the next five years – with two options for extension – allowing a performance period of up to 10 years. The agreement has a maximum worth of $2.8 billion if both options are exercised. This initiative augments THAAD’s abilities in addressing increasingly advanced missile threats.
“The field-validated THAAD interceptor acts as a formidable deterrent against a range of ballistic missile dangers, and we are thrilled to continue upgrading its functions for our current and future clientele,” expressed Dan Nimblett, vice president, Upper Tier Integrated Air and Missile Defense at Lockheed Martin Missiles and Fire Control. “THAAD is a crucial element of our missile defense infrastructure, and this endorsement from the MDA reinforces our commitment to collaboratively offering exceptional defensive capabilities against evolving missile adversities.”
This recent contract builds upon the THAAD Advanced Capability Development agreement, granted in 2012, and seeks to enhance the system’s present functionalities. The development framework will be delineated through specific task orders throughout the execution timeline.
THAAD provides exceptionally effective, tested missile defense against short, medium, and intermediate-range ballistic missile threats. The THAAD Weapon System boasts an outstanding flight test record of 17 for 17 interceptions. Sixteen of these successful interceptions were executed using a THAAD interceptor. The THAAD Weapon System successfully integrated with the PAC-3 MSE interceptor by launching and managing PAC-3 MSEs while intercepting a ballistic missile target.
