Boston, MA 10/16/2014 (wallstreetpr) – According to reports, Lockheed Martin Corporation (NYSE:LMT) recently announced that it had been offered THAAD or Terminal High Altitude Area Defense ground components contract by Missile Defense Agency. The total worth of this contract is close to $124.6 million fixed-price.
Insights of the contract:
With the help of this contract, the delivery of various launcher spares, U.S. government THAAD launchers, fire control, support equipment and communication spares has been made available. Management of Lockheed Martin Corporation (NYSE:LMT) is extremely delighted to receive this contract and thinks that it will further enhance the growth opportunities and development cycle of the company. As per the information, LMT will initiate the work at the beginning of 2016.
It has decided to target a set of locations where the project will be launched initially. These locations consist of Dallas, Huntsville, Alabama; Lufkin, Texas; Ocala, Florida; Camden, Arkansas and Sunnyvale, California. If everything goes fine, then LMT will look forward to finishing the work within a year’s time i.e. by 2017.
Over the last nine years, Terminal High Altitude Area Defense ground components development program has completed thirteen tests, eleven out of these tests have been successful. Number of attempts for each successful test have been one each. As of now, THAAD is the only successful program that comes with second to none operational flexibility. With the help of this flexibility, intercepting in both exo and endo-atmospheres becomes very easy and flexible for war-fighter.
Management of the company thinks that this contract will enhance not only its operational efficiency, but also brand image in the near future. Reporters tried to get in touch with the staff of Lockheed Martin Corporation (NYSE:LMT) and any representative of Missile Defense Agency, but no representative from both the entities was available to comment on this matter. Experts call it a favorable step for LMT ahead of quarter results.
