Lockheed Martin strikes $35B deal to restock depleted THAAD interceptor stockpile
Summary
The U.S. Department of Defense gave Lockheed Martin a contract worth up to $35 billion to make hundreds of THAAD missile interceptors each year for seven years. This effort aims to rebuild the U.S. missile stockpiles, which have been running low.Key Facts
- Lockheed Martin received a contract from the Pentagon worth up to $35 billion.
- The contract lasts for seven years.
- The contract requires Lockheed Martin to produce hundreds of THAAD interceptors annually.
- THAAD stands for Terminal High Altitude Area Defense, which is a missile defense system.
- The goal is to replenish U.S. missile supplies that have been depleted.
- The Missile Defense Agency announced the contract.
- Lockheed Martin will initially receive $842.9 million as part of the deal.
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