(Reuters) -Boeing said on Tuesday it has secured about $2.7 billion in a combination of multi-year contracts to supply a key guidance component for the Patriot interceptor missiles.
The contracts come amid surging global demand for Patriot Advanced Capability‑3 (PAC‑3) interceptor missiles, as the United States and allied militaries ramp up air defense capabilities in response to heightened geopolitical tensions.
Under the agreement, Boeing will deliver more than 3,000 seekers, which aid the missile in detecting, tracking and locking onto its target, at rates of up to 750 units per year through 2030.
Boeing said it was working closely with prime contractor Lockheed Martin and the U.S. Army to increase the production rates further and meet new targets for the PAC‑3 interceptor.
“Demand for PAC‑3 interceptors has grown in response to recent conflicts and rapidly changing threat environments in Ukraine, the Middle East and the Indo‑Pacific,” Boeing said on Tuesday.
Last month, the U.S. Army awarded Lockheed Martin a $9.8 billion contract for PAC‑3 missiles.
The Patriot system is one of the advanced air defense platforms supplied by Western allies to Ukraine in its fight against Russia’s invasion and could also play a role in U.S. President Donald Trump’s proposed Golden Dome missile defense initiative.
(Reporting by Shivansh Tiwary in Bengaluru; Editing by Vijay Kishore)
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