Oct 14 (Reuters) - Boeing ( BA ) said on Tuesday it has
secured about $2.7 billion in a combination of multi-year
contracts to supply a key guidance component for the Patriot
interceptor missiles.
The contracts come amid surging global demand for Patriot
Advanced Capability-3 (PAC-3) interceptor missiles, as the
United States and allied militaries ramp up air defense
capabilities in response to heightened geopolitical tensions.
Under the agreement, Boeing ( BA ) will deliver more than 3,000
seekers, which aid the missile in detecting, tracking and
locking onto its target, at rates of up to 750 units per year
through 2030.
Boeing ( BA ) said it was working closely with prime contractor
Lockheed Martin ( LMT ) and the U.S. Army to increase the
production rates further and meet new targets for the PAC-3
interceptor.
"Demand for PAC-3 interceptors has grown in response to
recent conflicts and rapidly changing threat environments in
Ukraine, the Middle East and the Indo-Pacific," Boeing ( BA ) said on
Tuesday.
Last month, the U.S. Army awarded Lockheed Martin ( LMT ) a $9.8
billion contract for PAC-3 missiles.
The Patriot system is one of the advanced air defense
platforms supplied by Western allies to Ukraine in its fight
against Russia's invasion and could also play a role in U.S.
President Donald Trump's proposed Golden Dome missile defense
initiative.