Ballistic missile defense system

Lockheed secures $528M Army contract for more THAAD interceptors

Lockheed Martin announced Jan. 4 it locked-in a $528 million contract with the Army to build more interceptors for the Terminal High Altitude Area Defense (THAAD) system.

A company spokesman said the contract funds cover "Lot 7 (FY15) and Lot 8 (FY16)" interceptors for the program. Lockheed delivered its 100th THAAD interceptor in 2015.

THAAD is part of the Army's Ballistic Missile Defense System and is designed to defeat incoming threats in the terminal phase using hit-to-kill technology.