The companies will explore potential joint opportunities in areas such as research and development, production, marketing and other activities.
Both companies will establish an executive steering committee and working groups for the implementation of this MOU and cooperation.
“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,” said Tim Cahill, Lockheed Martin Senior Vice President, Global Business Development.
“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.”
Boaz Levy, IAI’s President & CEO, added, “The MOU 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.”