Lockheed Martin receives $19 million THAAD contract modification

WASHINGTON, Aug. 29 (UPI) -- Lockheed Martin has received a $19 million U.S. Missile Defense Agency contract modification for work on the Terminal High Altitude Area Defense, or THAAD, element of the Ballistic Missile Defense system.

The modification to the previously awarded contract increases the total value to $916 million.

Under the modification, two additional Lot 8 interceptors will be produced and associated production support efforts will be provided.

Work will be performed in Texas, Alabama and Arkansas.

THAAD provides the missile defense system with a globally transportable, rapidly deployable capability to intercept and destroy ballistic missiles inside or outside the atmosphere during their final, or terminal, phase of flight.

It is particularly effective against asymmetric ballistic missile threats and utilizes hit-to-kill technology wherein kinetic energy destroys the incoming warhead.