The U.S. Army awarded Lockheed Martin (LMT) a $9.8B contract for the production of 1,970 Patriot Advanced Capability – 3 Missile Segment Enhancement interceptors and associated hardware. This marks the largest contract in Lockheed Martin Missiles and Fire Control history. Lockheed Martin is continuing to ramp production of PAC-3 to meet increased demand. The company is expected to deliver more than 600 interceptors in 2025 for the first time. This is a result of the company’s proactive steps to start the production ramp with significant internal investments to increase PAC-3 MSE production rates almost two years ahead of contract award.
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