Lockheed wins US Army missile contract worth up to US$1.2 billion
BENGALURU: Lockheed Martin said on Monday it had secured a contract worth up to US$1.2 billion from the US Army to produce the Increment 2 variant of the Precision Strike Missile (PrSM).
Lockheed Martin has secured a significant contract worth up to US$1.2 billion from the US Army to manufacture the Increment 2 variant of the Precision Strike Missile (PrSM). This missile is part of the Army's next-generation long-range precision strike weapon system, which is set to replace the Army Tactical Missile System, or ATACMS.
The award comes after a successful flight test of the missile's Increment 2 variant, demonstrating its capability to target moving maritime vessels. Lockheed Martin is currently expanding its production capacity in response to growing demand for such advanced long-range strike weapons. In March, the company signed a seven-year agreement with the US Department of Defense to increase annual production to 550 missiles, following a previous contract worth US$4.94 billion. This new deal builds upon the weapon's first combat usage during Operation Epic Fury.
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Also reported by 2 other outlets
- Lockheed wins US Army missile contract worth up to $1.2 billion investing.com
- Lockheed Martin lands $1.2B Army deal for PrSM missiles seekingalpha.com
