US Signs $3B Deal to Triple Patriot, Quadruple THAAD Missile Production
The Pentagon has finalized a framework agreement exceeding $3 billion with Lockheed Martin and Northrop Grumman to boost the manufacturing of components for Patriot and THAAD interceptor missiles. Announced on Monday, the agreement aims to triple the production of Patriot systems and quadruple that of THAAD missiles. This initiative responds to the depletion of US stockpiles due to ongoing conflicts in Ukraine and the Middle East. Additionally, a separate contract for Lockheed to produce Patriot interceptors, valued at up to $58.6 billion, was revealed last week. A recent estimate from the Center for Strategic and International Studies indicates that the US military possesses fewer than 1,000 Patriot and less than 250 THAAD interceptors.
Key facts
- The US signed a deal worth over $3 billion with Lockheed Martin and Northrop Grumman to boost production of Patriot and THAAD interceptor missile parts.
- The deal was announced by the Pentagon and Northrop on Monday.
- The framework deal will allow Patriot production to triple and THAAD production to quadruple.
- The deal follows a contract announced last week for Lockheed worth up to $58.6 billion to produce Patriot interceptor missiles.
- Conflicts in the Middle East and Ukraine have strained US stockpiles of air defense systems.
- The Center for Strategic and International Studies estimates the US has fewer than 1,000 Patriot interceptors and fewer than 250 THAAD interceptors.
- Both systems have been heavily used in the Middle East.
- Pentagon negotiators have pressed contractors to move faster with tentative production agreements struck earlier this year.
Entities
Institutions
- Lockheed Martin
- Northrop Grumman
- Pentagon
- Center for Strategic and International Studies
Locations
- United States
- Middle East
- Ukraine
- Iran
- Washington