Lockheed Martin Secures $17 Billion US Missile Defense Contracts
Originally Published 1 year ago — by Reuters
Lockheed Martin has secured a $17 billion contract from the U.S. Missile Defense Agency to develop the Next Generation Interceptor (NGI) for protecting the United States against intercontinental ballistic missile threats. The program aims to modernize the Ground-Based Midcourse Defense system and is expected to produce 20 interceptors by 2028. This win comes as a boost for Lockheed following setbacks in other defense projects, and the company's shares closed up 0.60% on Monday. The contract represents a significant investment in missile defense, with the Biden administration requesting $28.4 billion for missile defenses in its fiscal 2025 budget.