Lockheed Martin announced in April 2015 that it will be the prime contractor of a potential foreign military sale (FMS) program of AGM-114R1 Hellfire missiles and associated equipment to the Republic of Korea. The sale, which is estimated to be around USD$81 million, calls for a supply of 400 AGM-114R1 Hellfire II semi-active laser missiles with containers, 100 ATM-114Q air training missiles, and 12 M36E8 Hellfire II captive air training missiles.
South Korea intends to use these Hellfire missiles to supplement its existing missile capability and current weapons inventory, while at the same time strengthening its homeland defense to ward off various regional threats. The sale of these missiles is also expected to contribute to South Korea's force modernization goals and enhance interoperability with the US forces. South Korea, which is one of the major political and economic powers in East Asia and the Western Pacific, is a key partner of the United States in ensuring peace and stability in the region.
By addressing the legitimate security and defense requirements of South Korea, the sale will contribute directly to the United States’ foreign policy and national security objectives. Currently, Lockheed Martin is looking forward to get the contract approval from the US State Department. The AGM-114 Hellfire, designed by Lockheed Martin, is a precision-strike, multi-purpose missile designed primarily to provide anti-armor capabilities for attack helicopters against a wide range of targets in the battlefield.
Designed for launch from multiple air, sea and ground platforms, the 100-pound missile features semi-active laser seekers, a guidance computer and steering control, as well as propulsion systems, and can also be used by lock-on before or after launch for enhanced platform survivability. By defense revenue, Lockheed Martin is the largest defense contractor in the world.
is an American company operating divisions in aerospace, defense, security, and advanced technology. Headquartered in Bethesda, Maryland, the company employs 116,000 workers worldwide. The company operates in five business segments: Aeronautics, Information Systems & Global Solutions, Missile and Fire Control, Mission Systems and Training, and Space Systems.
In 2009, US government contracts accounted for $38.4 billion (85%), foreign government contracts $5.8 billion (13%), and commercial and other contracts for $900 million (2%). The company’s net sales for 2014 were $45.6 billion. The Missile and Fire Control segment of Lockheed Martin generated revenues of $7.1 billion in FY14, contributing to 15.5% of the total revenues.
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