Markets Insider:
DALLAS, Jan. 26, 2018 /PRNewswire/ — The Missile Defense Agency (MDA) has awarded Lockheed Martin (NYSE: LMT) a $459 million contract modification for production and delivery of interceptors for the Terminal High Altitude Area Defense (THAAD) weapon system. The modification brings the total contract value to $1.28 billion with funding provided in 2017 and 2018. The new interceptors support U.S. Army THAAD units and growing operational requirements.
THAAD is a key element of the Ballistic Missile Defense System (BMDS), and is highly effective at protecting America’s military, allied forces, citizen population centers and critical infrastructure from short-, medium- and intermediate-range ballistic missile attacks.
“The THAAD system’s capability and reliability have been demonstrated with 15 out of 15 hit-to-kill intercepts dating back to 1999, and by exceeding readiness rates currently being experienced in the field with operationally deployed batteries,” said Richard McDaniel, Lockheed Martin’s vice president for the THAAD system.
