Lockheed Martin Receives $68.9 Million Contract For PAC-3 MSE Production
DALLAS, July 19, 2012 /PRNewswire/ -- Lockheed Martin (LMT) [NYSE: LMT] received a $68.9 million contract to prepare the Patriot Advanced Capability-3 (PAC-3) Missile production line for the introduction of the Missile Segment Enhancement (MSE) version of the combat-proven PAC-3 Missile.
The facilitization contract provides funding for PAC-3 MSE-specific tooling and test equipment at the company's Camden, Ark., facility, as well as other sites and subcontractors in anticipation of a production decision by the U.S. Army in 2013. The U.S. Army Aviation & Missile Command, Huntsville, Ala., is the contracting agency.
"The PAC-3 MSE is a true spiral development that will enable a very capable interceptor to grow to the requirements of defeating new and evolving threats," said Richard McDaniel, vice president for PAC-3 Missile programs at Lockheed Martin's Missiles and Fire Control business. "These enhancements will assure the PAC-3 Missile Segment will be capable of defeating these threats far into the future."
The PAC-3 MSE Missile provides increased performance, greater altitude and range than the PAC-3 Cost Reduction Initiative Missile. The PAC-3 Missile is the only Patriot missile that utilizes hit-to-kill technology to engage incoming targets.
The PAC-3 MSE Missile will be packaged in a single canister that stacks to provide flexibility for the Patriot air defense system launcher load-out requirements. The PAC-3 MSE Missile was selected as the primary interceptor for the multi-national MEADS in September 2006.
Lockheed Martin Missiles and Fire Control is prime contractor on the PAC-3 Missile Segment upgrade to the Patriot air defense system. The PAC-3 Missile Segment upgrade consists of the highly agile hit-to-kill PAC-3 Missile, the PAC-3 Missile canisters (in four packs), a fire solution computer and an Enhanced Launcher Electronics System (ELES). These elements will be integrated into the Patriot system.
Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs about 120,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation's net sales for 2011 were $46.5 billion.
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SOURCE Lockheed Martin