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Boeing Wins $2.7 Billion In PAC-3 Seeker Production Contracts, Lockheed Martin And Diehl Make A Deal

Rich Abott By
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Boeing Wins $2.7 Billion In PAC-3 Seeker Production Contracts, Lockheed Martin And Diehl Make A Deal
Launch of Patriot Advanced Capability (PAC)-3 Missile Segment Enhancement (MSE) interceptor. (Photo: Lockheed Martin)

Boeing [BA] on Tuesday announced it won a series of multiyear contracts worth $2.7 billion total to produce more Patriot Advanced Capability-3 (PAC-3) seekers. Boeing produces the seekers under prime contractor Lockheed Martin [LMT] said it has been working closely with them and the U.S. Army to improve production rates. Under the latest agreements, Boeing will deliver over 3,000 seekers at a rate of 750 units annually through 2030.  The seekers allow the interceptors to identify, track and defeat targeted…

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