Lockheed Martin Wins $2.06B THAAD Missile System Contract

Investing.com – Lockheed Martin (NYSE: LMT) Corporation Missiles and Fire Control was awarded a modification agreement worth $2.06 billion to manufacture the Terminal High Altitude Area Defense (THAAD) system, according to a U.S. Department of Defense announcement on Monday.

This amendment increased the total value of the previously awarded contract from $8.35 billion to $10.42 billion. The contract will support the U.S. government’s missile defense capabilities.

According to the agreement terms, Lockheed Martin will manufacture THAAD components under fixed‑price contract items with incentives. Work will be carried out at multiple sites including Dallas, Texas; Sunnyvale, California; Troy, Alabama; and Camden, Arkansas.

The project is slated to be completed on December 1, 2029. The Department of Defense noted that a proposal was invited for this contract amendment, and a proposal was received.

The Missile Defense Agency in Huntsville, Alabama, acts as the contracting signing authority for this award. The Pentagon committed $284.92 million from the 2024–2025 fiscal year procurement budget at the time of award.