Lockheed Martin-Pike County Operations will benefit from a $789.8 million contract recently awarded to the company.

The defense contractor received the contract this week to continue production on the Terminal High Altitude Area Defense (THAAD) production contract.

The contract will allow Lockheed Martin to produce the THAAD weapon system, which will be utilized by the Missile Defense Agency.

According to a press release, the contract includes $694.9 million and for the production of 48 THAAD interceptors, six THAAD launchers, four fire control units and additional support equipment. The interceptors are produced at Lockheed Martin’s Pike County facility in Troy.

An option for additional launchers in the amount of $94.8 million was also awarded to Lockheed.

Tom McGrath, vice president and program manager for THAAD at Lockheed Martin, said that he has confidence in the established plans to deliver the THAAD weapon system to the “war fighter” as soon as possible.

“Lockheed Martin remains focused on ensuring THAAD is reliable, affordable and effective,” McGrath said, in a press release.

The THAAD development program has completed 11 flight tests, with seven intercepts in seven attempts since 2005, according to company information. THAAD is the only missile defense system with the operational flexibility to intercept in both the endo-atmosphere and exo-atmospheres.