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Pentagon Grants Lockheed Martin With $1 Billion For THAAD

In recent time, the Pentagon granted Lockheed Martin with $946 Million on behalf of Saudi Arabia for the defense company’s THAAD (Terminal High Altitude Area Defense) missile defense system. The DoD (Department of Defense) announced that the million dollar grant is the first payment of what is anticipated to be a $15 Billion agreement. In November, CNBC stated that Saudi Arabia inked a memo of offer and approval with the U.S. for THAAD missile system, which is a significant step frontward in the $15 Billion deal. Saudi executives, along with their U.S. equivalents, inked the decisive government-to-government deal on November 26, setting the stage for the very big sale of 44 THAAD missiles, launchers, and related equipment.

The Pentagon’s major weapons supplier is constructed by Lockheed Martin and is regarded as the US’ crown jewel in the missile defense systems. The improvement came as Saudi Arabia surfaced inquiry in the killing of journalist Jamal Khashoggi, plus its role in Yemen’s war. The U.S. President Donald Trump, in meantime, has stated the significance of defense deals in defending his conclusion to stick with Saudi Arabia in the outcome of the slaying. Reportedly, Saudi Arabia’s oil-rich realm is one of America’s most critical strategic partners and an important client of the U.S. defense companies.

Recently, Lockheed Martin was in news as Singapore intends to order 4 of the defense company’s fighter jets. Singapore has planned to order four F-35 Joint Strike Fighters from Lockheed Martin to reinstate its aging F-16 convoy and prepares to send a letter of demand to the U.S. for the attainment, Ng Eng Hen—Defense Minister of Singapore—stated. Singapore also intends to have an alternative to order 8 more of the fighter jets, Ng asserted to policymakers in parliament. The city-state’s air force can have a convoy of F-15SGs and F-35s in a decade or so from the present time, he stated.

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CHIEF EDITOR AT Market News World 24

James Skiba has done his Bachelor’s in Commerce from a well-known university. With an experience of more than 10 years in the field of banking and finance news publications, he is all set to make his name stand up in the present world. The global space, tech, and science news, or even the domestic news is not a new thing for him to write. Presently, James is aiming to shift his interest completely on global industrial segment while still preserving his exclusive editorial talent. Here he takes care of all publications related to Business World.

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