finance.yahoo.com

Lockheed Martin and Northrop Grumman Win $3B Pentagon Deal for Patriot/THAAD Parts

Lockheed Martin logoLockheed Martin
Sig3.70Sen+2.40Env0.00Soc0.00Gov0.00
Northrop Grumman logoNorthrop Grumman
Sig3.40Sen+4.30Env0.00Soc0.00Gov0.00

Pentagon signed a $3B deal on Aug. 3 with Lockheed Martin and Northrop Grumman to increase production of Patriot and THAAD interceptor missile parts, making Northrop a second source for solid rocket motors for the PAC-3 MSE. The award follows a $58.6B Patriot interceptor contract for Lockheed and adds a new revenue stream for Northrop amid margin concerns, even as both face cost pressures in other programs.

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