Lockheed Martin Receives $379 Million Contract for PAC-3 Missile Production
DALLAS, TX, May 4th, 2006 -- Lockheed Martin [NYSE: LMT] received a $379 million contract from the U.S. Army Aviation and Missile Command (AMCOM) for the production of 112 Patriot Advanced Capability-3 (PAC-3) Missiles. The contract also includes launcher modification kits, program management and engineering, as well as spares and other necessary equipment.
The PAC-3 Missile is currently the world’s only fielded hit-to-kill, pure kinetic energy air defense missile. Production of all equipment will take place at Lockheed Martin manufacturing facilities in Dallas and Lufkin, TX, and the PAC-3 All-Up Round facility in Camden, AR.
“The PAC-3 Missile has proven hit-to-kill lethality and is the world’s most advanced, capable air defense missile, so we’re pleased to provide this powerful system to the U.S. Army,” said Richard McDaniel, director - PAC-3 Missile Program at Lockheed Martin Missiles and Fire Control. “The battle-proven PAC-3 Missile enables the PAC-3 system to deliver unprecedented levels of protection to U.S. Warfighters and our friends and allies.”
Lockheed Martin Missiles and Fire Control is the prime contractor on the PAC-3 Missile Segment upgrade to the Patriot air defense system. The PAC-3 Missile Segment upgrade consists of the PAC-3 Missile, a highly agile hit-to-kill interceptor, the PAC-3 Missile canister (which holds four PAC-3 missiles), a Fire Solution Computer and an Enhanced Launcher Electronics System.
Over the past 12 years, the PAC-3 Missile has achieved the most successful flight test record of any U.S. missile defense interceptor.
The PAC-3 Missile is the world’s most advanced, capable and powerful theater air defense missile. It defeats the entire threat to the Patriot Air Defense System: tactical ballistic missiles, evolving cruise missiles and fixed and rotary winged aircraft. PAC-3 Missiles significantly increase the Patriot system's firepower, since 16 PAC-3s load-out on a Patriot launcher, compared with four legacy Patriot PAC-2 missiles.
The PAC-3 Missile has been selected as the U.S. primary interceptor for the multi-national Medium Extended Air Defense System (MEADS). MEADS is a model transatlantic program for the next generation of air and missile defense. MEADS will focus on risk reduction, application of key technologies and validation of a system design incorporating the PAC-3 Missile as the primary interceptor.
Craig Vanbebber, (972) 603-1615
e-mail craig.vanbebber@lmco.com
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