Aerospace Group:

International Customers Help Lockheed Martin’s Affordability Efforts, Official Says

By Cal Biesecker

Thursday, August 25th, 2011

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The Patriot PAC-3 missile, developed by Lockheed Martin [LMT] is one of the company’s successful missile programs that has attracted international buyers, which in turn reduces costs for U.S. programs, a senior official said. “Just since 2006, the United States government has benefited to the tune of $482 million in terms of either deferred costs or reduced costs based on quantities just because of our partners involved in the program,” said Dennis Cavin, vice president Army and Missile Defense programs,…

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