Lockheed Martin reports receipt of a $1.5 billion contract to produce advanced missiles for Patriot air-defense systems for allied nations.

The PAC-3 and PAC-3 Missile Segment Enhancement missiles deal includes provision of associated equipment and spare parts.

Recipients of the interceptors through the U.S Foreign Military Sales program are the Republic of Korea, the Kingdom of Saudi Arabia, Qatar, Taiwan and the United Arab Emirates.

"The PAC-3 and the PAC-3 MSE interceptors are the most advanced, capable and reliable terminal air-defense missiles in the world," said Scott Arnold, Lockheed Martin's vice president of PAC-3 programs. "As threats grow in complexity, these interceptors will continue to be in high demand to protect soldiers and citizens around the globe."

The PAC-3 Missile is a high-velocity hit-to-kill interceptor fpr defense against incoming and aircraft. The PAC-3 MSE uses two-pulse solid rocket motor to increased altitude and range.

The U.S. Army Contracting Command at Redstone Arsenal in Alabama is the contracting authority for the production work.