U.S. secures purchase of approximately 2,000 Patriot missiles from Lockheed Martin at a cost of $8.420 million.

In a significant development for the defence industry, the U.S. Army has awarded two substantial contracts to Lockheed Martin.

Firstly, the Army has awarded a contract worth approximately €774 million to the Javelin Joint Venture (JJV), a joint venture between Lockheed Martin and Raytheon, for the production of Javelin anti-tank missiles. This contract is separate from the one for the Patriot PAC-3 missiles, which Lockheed Martin has also secured.

The Javelin anti-tank missiles, produced by the JJV, are designed for anti-tank purposes, unlike the Patriot PAC-3 missiles, which are used for defence against incoming threats. The Javelin anti-tank missiles are renowned for their effectiveness in destroying armoured vehicles and fortifications.

Lockheed Martin has made significant investments to increase production of these types of missiles, reflecting their commitment to maintaining the U.S. Army's readiness and capabilities. The JJV was specifically awarded the contract for the production of Javelin anti-tank missiles, demonstrating the trust and confidence placed in this joint venture.

Meanwhile, the contract for the Patriot missiles is the largest in the history of Lockheed Martin Missiles and Fire Control, and is worth approximately €8.42 billion at current exchange rates. This contract, awarded by the U.S. Army, is for the production of 1,970 Patriot (PAC-3 MSE) missiles.

The Patriot PAC-3 MSE missile is an advanced and proven interceptor, according to Lockheed Martin. It delivers exponentially more kinetic energy to the target than can be achieved through explosive fragmentation mechanisms, making it a formidable defence against incoming threats. The continued demand and confidence in this advanced interceptor is demonstrated by the contract for the Patriot missiles.

Lockheed Martin expects to deliver 600 units of the Patriot PAC-3 MSE missiles this year, further underscoring their commitment to meeting the needs of their clients. The Patriot PAC-3 interceptor has been combat-proven against ballistic missiles, cruise missiles, hypersonic missiles, and air threats, making it a crucial component of many defence systems around the world.

In fact, seventeen partner countries, including the United States, have chosen the PAC-3 for defence against incoming threats. This widespread adoption underscores the trust and confidence that nations have in the Patriot PAC-3 system.

As the world's largest military contractor, Lockheed Martin continues to set the standard for innovation and excellence in the defence industry. These contracts for the Javelin anti-tank missiles and the Patriot PAC-3 missiles are a testament to their commitment to providing the U.S. Army and their international partners with the most advanced and effective defence systems available.

U.S. secures purchase of approximately 2,000 Patriot missiles from Lockheed Martin at a cost of $8.420 million.