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Lockheed Awarded $2.4 Billion Deal By Pentagon For THAAD Missiles

Lockheed Martin Corporation was granted a $2.4 Billion Pentagon deal in recent time for THAAD (Terminal High Altitude Area Defense) interceptor missiles, a number of which are anticipated to deliver to Saudi Arabia. Reuters stated that Lockheed was approaching the deal earlier. In November, the U.S. and Saudi officials inked letters of offer and approval formalizing tenures for Saudi Arabia’s acquisition of 44 THAAD missiles, launchers, and related equipment. The Pentagon stated the Saudi Arabia government will compensate $1.5 Billion of the $2.4 Billion.

The November contract was signed amid apprehensions about the responsibility of the kingdom’s leadership in the killing of journalist Jamal Khashoggi, who was a well-known Saudi critic who stayed in the U.S. and a columnist for The Washington Post. Lockheed—the largest US arms manufacturer—assembles and incorporates the THAAD system that is constructed to shoot down MRBM (medium-range ballistic missiles), SRBM (short-range ballistic missiles), and IRBM (intermediate-range ballistic missiles). Another defense contractor firm and Lockheed’s rival, Raytheon, builds its superior radar. As part of the scale of work delineated by the Pentagon, outdated systems presently in place would be upgraded to prepare the existing Saudi missile defense groundwork for the new THAAD technology.

Recently, Lockheed Martin was in news for declaring grants for “Future Submarine Program” engineering. Lockheed Martin Australia has publicized research and development seeding grants to back the development of sophisticated technologies for the nation’s potential submarine program. The firm would invest over $900,000 in Australian academic and business partners, counting SMEs (small and medium enterprises) and universities. A total of 10 organizations have been picked for the grants following a competitive process. In a declaration, Lockheed Martin Australia stated, “The program is representative of the multimillion-dollar, long-term investment in R&D to offer a roadmap for prospect-proofing the higher technologies required to deliver and uphold regional superiority to the future submarine fleet.”

Shannon Riley
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SR. CONTENT WRITER at Global Market News Wire

Having an experience of 4 years, Shannon has earned the position of the senior content writer in our organization owing to her hard work and dedication. Shannon deals with writing news and articles relating to the recent trends and events in the world of Business. In her free time, Shannon likes to watch videos and documentary for the various business tycoons from all across the world. she also maintains a personal blog presenting informative information relating to different businesses.

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