Lockheed Martin Corp has won a contract valued at $755 million for procurement of Patriot Advanced Capability-3 (PAC-3) missiles, including support for foreign military sales, the Pentagon announced on Thursday.
The contract runs through July 31, 2015, the Defense Department said in its daily digest of major arms contracts.
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Lockheed describes the PAC-3 missile as the world's most advanced and powerful terminal air defense missile, which can be used against tactical ballistic missiles, cruise missile and aircraft. The missile defeats targets through a direct hit.
(Reporting by Andrea Shalal-Esa; Editing by Leslie Gevirtz)