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Pentagon Awards Lockheed $4.7 Billion Deal for Patriots

By Marcus Weisgerber

Defense contractor Lockheed Martin has been handed a $4.7 billion Pentagon contract for Patriot interceptors, which have been used extensively by the U.S. and its allies to shoot down Iranian missiles and drones.

The deal is a step toward the company increasing production of the PAC-3 MSE interceptor from 620 last year to 2,000 per year by 2030, an agreement Lockheed and the Pentagon announced in January.

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