IAI teams with Lockheed Martin on missile defense systems

IAI Lockheed Martin MoU signing Photo: IAI

The companies will explore potential joint opportunities in areas such as R&D, production, marketing and other activities.

Israel Aerospace Industries (IAI) and Lockheed Martin have signed a Memorandum of Understanding (MOU) for collaboration in Integrated Air and Missile Defense (IAMD) systems. Under the terms of the agreement, the companies will explore potential joint opportunities in areas such as R&D, production, marketing and other activities. Both companies will establish an executive steering committee and working groups for the implementation of this MOU and cooperation.

IAI’s President & CEO Boaz Levy said, "The MOU entered today is a strategic agreement for us. Combining the development capabilities and the vast know-how of Lockheed Martin and IAI experience accumulated over the years in IAMD systems will create win-win opportunities for both sides. IAI looks forward in exploring this cooperation and optimizing the possibilities in it."

Lockheed Martin SVP global business development Tim Cahill said, "Our long-standing relationship with the State of Israel and its defense industries opens new opportunities for Lockheed Martin, aimed to expand our businesses around the world while delivering unmatched IAMD capabilities to our global customers. This new Memorandum of Understanding is yet another step in our strategy for cooperation with IAI, as a partner in some of our key programs."

Published by Globes, Israel business news - en.globes.co.il - on July 6, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

IAI Lockheed Martin MoU signing Photo: IAI
IAI Lockheed Martin MoU signing Photo: IAI
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