April 10 (Reuters) - Lockheed Martin said on Friday the U.S. government awarded the defense giant a $4.7 billion preliminary contract to continue critical accelerated production of PAC-3 Missile Segment Enhancement.
This comes months after the company reached a seven-year agreement with the U.S. Department of War to boost annual PAC-3 missile interceptor production to 2,000 units from about 600, as countries step up air defense capabilities in response to heightened geopolitical tensions.
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"Lockheed Martin has invested more than $7 billion since President Donald Trump's first term to expand capacity for priority systems, including approximately $2 billion dedicated to accelerating munitions production," the company said on Friday.
(Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Vijay Kishore)
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