Boeing Given $2.7 Billion In Contracts For Patriot Missile Seekers 

Defense behemoth Boeing announced on Tuesday that it had been given about $2.7 billion in multiyear contracts to produce more than 3,000 Patriot Advanced Capability‑3 (PAC‑3) seekers through 2030. 

Boeing said the demand for PAC‑3 interceptors has spiked in light of the conflicts and tensions in Ukraine, the Middle East and the Indo-Pacific. 

Boeing is set to deliver over 3,000 seekers, a key component for the Patriot interceptor missiles, at a rate of up to 750 units a year, according to the agreements. 

The Patriot systems have been among the key tools in Ukraine's efforts to defend against Russia's missile and drone attacks over the past three years, and are also a key part of Taiwan's preparations for a potential Chinese attack.

That demand has ramped up pressure on U.S. manufacturers to ensure that U.S. stockpiles aren't depleted.

Boeing said it would work “closely” with the U.S. Army and Lockheed Martin to boost production and hit the new target for the interceptor. 

"Our team has never been better positioned to answer the nation's call for greater air and missile defense," Jim Bryan, the executive director of Boeing Integrated Air & Missile Defense, said in a statement. 

"These multiyear awards recognize the progress we've made and will allow us to meet growing global demand for the PAC‑3 seeker,” Bryan added. 

In early September, the Army awarded Lockheed Martin a $9.8 billion contract to produce PAC-3 MSE interceptors and associated hardware.