Lockheed Martin Awarded $43.3 Million Contract For Concept Definition of Standard Missile-3 Block IIB

SUNNYVALE, Calif., 04/08/2011 --

Lockheed Martin (NYSE: LMT) announced today that the U.S. Missile Defense Agency has awarded it a $43.3 million contract for concept definition and program planning for the Standard Missile-3 Block IIB (SM-3 IIB).

The new missile, formerly known as the Next Generation Aegis Missile, will provide early intercept capability against intermediate- and long-range ballistic missile threats. It will be a key element of the fourth phase of the Phased Adaptive Approach, which will provide enhanced capabilities against threats on a global basis. The missile will be integrated into the Aegis Weapon System, with the Aegis BMD 5.1 Fire Control and the MK 41 Vertical Launching System, as part of the land-based Aegis Ashore capability.

"This represents a unique opportunity to develop and field a critical addition to our nation's missile defense capability, one that complements existing systems," said Doug Graham, vice president of advanced programs, Strategic and Missile Defense Systems, Lockheed Martin Space Systems Company. "Working in partnership with the Missile Defense Agency and the U.S. Navy, Lockheed Martin will leverage extensive missile defense interceptor and weapon system integration expertise to deliver a new interceptor that addresses emerging ballistic missile threats, with the flexibility to operate across the globe."

The 32-month concept definition and program planning phase will focus on defining design objectives, conducting trade studies to establish a technical baseline, reducing technology risk and developing an executable program plan.

Lockheed Martin will perform work in Sunnyvale, Calif., Huntsville, Ala., Moorestown, N.J., and Grand Prairie, Texas.

Lockheed Martin is a leading developer of ballistic missiles and interceptors for strategic and defensive missions. This includes the U.S. Navy's Trident II D5 Fleet Ballistic Missile, which has achieved a record-setting 135 consecutive successful test flights since 1989. Missile defense systems developed by Lockheed Martin include Aegis Ballistic Missile Defense and Terminal High Altitude Area Defense. Lockheed Martin's focus on operational excellence yields affordable high-quality systems and services.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 132,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's 2010 sales from continuing operations were $45.8 billion.