Army Buys PAC-3 Missiles from Lockheed

(MoneyWatch)  Lockheed Martin the manufacturer of the PATRIOT PAC-3 missile received several contracts related to that system recently. They total over $750 million and provide for the production of the missiles, support and modifications of launcher units. The contracts also pay for the first parts of the system ordered by the UAE. We wrote about this a few days ago. The press release can be found at PressReleasePoint.com. The PATRIOT system has two main contractors as Raytheon designs and manufactures the radar and C3I systems while Lockheed makes the PAC-3 missile. Lockheed continues their long term support of missile defense through production of kinetic, hit-to-kill warheads a technology they pioneered. The U.S. Army has two main missile defense systems, the PATRIOT and the newer, long range THAAD system that is just starting to go into service. One of the main issues that faces the Obama administration is whether to continue the U.S. investment in missile defense systems.