Lockheed Martin: up to $2.8 billion in contracts with the MDA

(CercleFinance.com) - Lockheed Martin announces that it has been awarded an indefinite-delivery/indefinite-quantity (IDIQ) contract by the U.
S. Missile Defense Agency (MDA) to develop the Terminal High Altitude Area Defense (THAAD) weapon system.

THAAD is a missile defense system designed to intercept and destroy ballistic missiles in the terminal phase of their trajectory, i.e. when they re-enter the atmosphere.

The contract has an initial duration of five years - with two extension options bringing the total duration to ten years - for a maximum value of 2.8 billion dollars.

The aim of the agreement is to strengthen THAAD's capabilities in the face of growing ballistic threats.

According to Dan Nimblett, Vice President at Lockheed Martin Missiles and Fire Control, this contract confirms the MDA's confidence in THAAD as a key element of the missile defense architecture.

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