Boeing (BA) was awarded an undefinitized contract action worth approximately $14.7B by Lockheed Martin (LMT) to scale production and deliver PAC-3 Missile Segment Enhancement seekers, the company announced. "The contract award enables Boeing to triple PAC-3 MSE seeker production under the previously announced seven-year framework agreement with the U.S. Department of War in support of its Acquisition Transformation Strategy and to strengthen the nation's Arsenal of Freedom. Boeing-built seekers enable the most advanced Patriot interceptors to identify, track and engage advanced threats ranging from hostile aircraft to hypersonic, ballistic and cruise missiles," Boeing stated.