Lockheed Martin wins $53.9 billion missile contract
- Lockheed Martin received a U.S. government contract modification worth up to $53.9 billion for PAC-3 MSE interceptors.
- The award increases the total multiyear contract value to $58.6 billion, including a prior $4.7 billion award.
- Lockheed Martin said the funding will support higher interceptor production capacity and facility investments through 2030.
Lockheed Martin (NYSE:LMT) received a seven-year undefinitized contract action modification from the U.S. government worth up to $53.9 billion to produce PAC-3 Missile Segment Enhancement (MSE) interceptors.
The award raises the total multiyear contract value to $58.6 billion, including a previously awarded $4.7 billion first-year contract, as the U.S. Department of War advances its Acquisition Transformation Strategy.
Lockheed Martin said the funding is expected to increase PAC-3 MSE production capacity threefold by the end of 2030 and support a 50% workforce increase at its Camden, Arkansas facility, from about 1,200 to approximately 1,850 jobs.
The company said the contract supports its long-term production plans.
Lockheed Martin plans to invest $8–$9 billion through 2030 to modernize more than 20 U.S. facilities and increase munitions production, alongside its previously awarded $35 billion multiyear THAAD interceptor contract.
The company produces defense systems, aircraft, missiles and space technologies for government customers and continues expanding manufacturing capacity under multiyear defense programmes.
