Pentagon awards Lockheed Martin nearly $1 billion for Saudi missile system deal

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WASHINGTON — The Pentagon awarded Lockheed Martin $946 million on behalf of the Kingdom of Saudi Arabia for the defense giants’ THAAD missile defense system, the Defense Department announced Monday.

The multi-million dollar award is the first installment of what is expected to be a $15 billion deal.

In November, CNBC learned that Saudi Arabia signed a letter of offer and acceptance with the United States for Lockheed Martin’s THAAD missile system, a significant step forward in the $15 billion deal.

Saudi officials, alongside their U.S. counterparts, signed the crucial government-to-government agreement on November 26, paving the way for the massive sale of 44 THAAD launchers, missiles and related equipment.

Manufactured by Lockheed Martin, the Pentagon’s top weapons supplier, THAAD, or terminal high altitude area defense, is regarded as America’s crown jewel in missile defense systems.

The development came as Saudi Arabia faced scrutiny over the killing of journalist Jamal

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