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Pentagon expands Patriot missile contract to $58.6 billion
The Pentagon increased the Patriot air defense system contract with Lockheed Martin by $53.9 billion, bringing the total value to $58.6 billion. A $35 billion preliminary contract was also signed for THAAD missile defense systems.
The US Department of Defense (Pentagon) revised its existing Patriot air defense missile contract with Lockheed Martin. The modification increased the contract value by $53.9 billion, raising the total value to $58.6 billion.
Under the revised agreement, the total cost of Patriot missile purchases reached $58.6 billion, including the $4.7 billion initial order placed in April.
The Pentagon also signed a $35 billion preliminary contract with Lockheed Martin for Terminal High Altitude Area Defense (THAAD) interceptor missiles, designed to counter ballistic missile threats.
In April, the US Department of Defense announced that it had reached framework agreements with Boeing and Lockheed Martin to triple the production capacity of critical missile components.
These framework agreements aim to increase production of the seeker heads that enable Patriot missiles to lock onto targets, a critical element of US air defense.
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