Lockheed given $100 million to step up Patriot production

Lockheed Martin has received $100 million from the US Army Aviation and Missile Command to accelerate current production of the Patriot Advanced Capability Missile.

Lockheed Martin has received $100 million from the US Army Aviation and Missile Command (AMCOM) to accelerate current production of the Patriot Advanced Capability (PAC-3) Missile. Part of the $100 million will pay for an additional 12 missiles to be delivered later this year.

The funding is in addition to a $341 million contract for 88 PAC-3 Missiles and associated hardware awarded to Lockheed Martin in December 2002. A total of 100 missiles will have been procured by AMCOM in Lockheed’s 2003 financial year.

According to Lockheed, the acceleration effort will provide additional critical manpower and second-shift operations throughout the supplier chain, accelerate delivery of contracted materials and provide for additional test equipment.

Missiles produced under the LRIP-2 and LRIP-3 contracts will now be delivered nine months ahead of the original schedule.

The PAC-3 Missile is a high velocity, hit-to-kill missile and is the next generation Patriot missile being developed to provide increased capability against advanced theater ballistic missiles, cruise missiles and hostile aircraft.