05:12 PM EDT, 04/15/2024 (MT Newswires) -- (Updates with the Missile Defense Agency's response in the third paragraph.)

Lockheed Martin ( LMT ) has been awarded a $17 billion contract from the US Missile Defense Agency to develop next-generation interceptors to defend against intercontinental ballistic missile attacks, Reuters reported Monday, citing two industry sources briefed on the matter.

The first next-generation interceptor is expected to be operational in 2028, according to the report.

The Missile Defense Agency confirmed it has selected Lockheed to continue development of the next-generation interceptor in an emailed statement to MT Newswires.

Lockheed did not respond to a request for comment by MT Newswires.

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