Boeing Wins $14.7 Billion PAC-3 Seeker Production Contract From Lockheed

Boeing Company(NYSE:BA) on Monday disclosed securing an approximately $14.7 billion undefinitized contract action from Lockheed Martin Corporation(NYSE:LMT). Boeing Wins Seven-Year PAC-3 MSE Seeker Production Framework The award allows Boeing to triple PAC-3 MSE seeker output under its previously announced seven-year framework agreement with the U.S. Department of Defense, supporting the department's Acquisition Transformation Strategy and efforts to strengthen the nation's Arsenal of Freedom. According to Boeing, the PAC-3 seeker is an active Ka-band millimeter-wave radar guidance component mounted in the nose section of the Patriot Advanced Capability-3 (PAC-3) and PAC-3 MSE interceptor missiles.