Lockheed Martin Partners With Israel's Rafael For Laser Weapon System

Lockheed Martin Corp LMT is partnering with Israel's Rafael Advanced Defense Systems Ltd to develop high-energy laser weapon systems.
The weapon system will be based on a technology already developed by Rafael and Ministry of Defense's Directorate of Defense Research and Development (DDR&D) in Israel.
The technology, called Iron Beam, is a 100kW-class HELWS, expected to be the first-ever operational system for ground-based air defense against threats such as rockets, mortars and UAV's, delivering engagement at the speed of light.
"This unique capability will enhance Israel's vital air and missile defense system with state-of-the-art laser technology, and we are honored by the opportunity to expand Lockheed Martin's role as a security teammate for the State of Israel," said COO Frank St. John.
Iron Beam is set to be integrated into Israel's multi-layered air defense array.
Price Action: LMT shares are trading lower by 0.81% at $492.23 on the last check Monday.
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