Pentagon expands Patriot missile order to nearly $59B

The Pentagon increased its long-term Patriot missile order to nearly $59 billion, highlighting the US military's growing demand for the air defense system following the Iran war, local media reported Wednesday.

The revised Army contract with Lockheed Martin is valued at up to $53.9 billion, supplementing a $4.7 billion Patriot missile order awarded in April.

The Pentagon also granted the company a preliminary $35 billion multiyear contract for Terminal High Altitude Area Defense (THAAD) interceptors designed to counter ballistic missile threats.

In April, the Defense Department said it reached a framework deal with Boeing and Lockheed Martin aimed at tripling the production capacity for critical missile components.

The seven-year agreement focuses on increasing output of seekers used in the Patriot Advanced Capability-3 (PAC-3) Missile Segment Enhancement (MSE), a key interceptor in the nation’s layered missile defense system.