
The Missile Defense Agency (MDA) awarded Lockheed Martin [LMT] a $912 million modification to a Terminal High Altitude Area Defense (THAAD) contract. The award specifically covers THAAD element development and support services, raising the ceiling value of the contract from $2.335 billion to $3.247 billion. The contract is a sole source indefinite-delivery/indefinite-quantity contract. The Defense Department announcement explains the modification provides for the extension of the period of performance for additional incremental development, support to flight and ground test programs,…