Lockheed Martin Secures $17 Billion Contract for US Anti-Missile Defense

by Roman Cheplyk
Tuesday, April 16, 2024
Lockheed Martin Secures $17 Billion Contract for US Anti-Missile Defense

Lockheed Martin Corp. has been awarded a significant $17 billion contract by the US Missile Defense Agency to develop the next generation of interceptors designed to protect the United States from intercontinental ballistic missile (ICBM) attacks

This development was reported on Monday by Reuters.

The contract encompasses the creation of the Next Generation Interceptor (NGI), which is set to enhance the existing Ground-Based Midcourse Defense system. This defense infrastructure includes a network of radars and anti-missile defenses strategically positioned to shield the U.S. from potential ICBM threats.

Currently, the NGI project is in its technology development phase, with plans to transition to the product development phase in May, as noted by Lt. Gen. Geet Collins, head of the Missile Defense Agency. The U.S. government's strategy involves the procurement of 20 interceptors, which are slated to be deployed at Fort Greeley in Alaska.

The decision to select Lockheed Martin followed a competitive process involving both Lockheed and Northrop Grumman, which in 2021 were awarded contracts to develop separate rocket designs. Following the announcement of the award, Lockheed Martin's shares saw a modest increase of 0.60%, closing at $462.08.

Lockheed Martin has not yet made a public comment regarding the contract. The first interceptor under this new initiative is anticipated to be operational by 2028, marking a critical advancement in U.S. missile defense capabilities.

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