Pentagon concludes agreements worth $3B to increase interceptor production

The Pentagon has concluded agreements worth over $3 billion with Lockheed Martin and Northrop Grumman aimed at expanding production capacities for munitions for Patriot and THAAD air defense systems, according to statements from the US military department and Northrop Grumman, Report informs.

The Pentagon noted that the "two framework agreements" are aimed at expanding "production capacity of critical missile-interceptor components."

The department emphasized that this will in the future help triple production volumes of PAC-3 missiles for Patriot and quadruple those for THAAD systems.

Northrop Grumman clarified that two multi-year framework agreements worth over $3 billion were signed.

Of this amount, $2 billion will be directed toward the production of engines and other systems for PAC-3, and $1 billion toward increasing production volumes of THAAD components over seven years.