Lockheed Martin secures $1.2B Army contract for missile system

Lockheed Martin (LMT) secured a $1.2B contract from the US Army for the Increment 2 variant of the Precision Strike Missile (PrSM). The contract follows a successful flight test and comes as Lockheed increases production capacity to 550 missiles annually, per the company.

Lockheed Martin secured a $1.2 billion contract for PrSM Increment 2 missiles, advancing maritime strike tech and expanding production fourfold. The contract covers initial missiles, future orders, and development. The missile, with a new multimode seeker, completed flight tests and will enter production. Lockheed Martin plans to scale manufacturing as the Army considers larger purchases.

Lockheed Martin (LMT) received a $1.2B contract from the U.S. Army for the production of the Precision Strike Missile (PrSM) Increment 2, following successful flight tests. The contract includes initial procurement, future orders, and continued development. The missile's ability to engage moving maritime targets expands the Army's long-range strike capabilities.

Lockheed Martin (LMT) received a $1.2B IDIQ contract from the U.S. Army for the production of Precision Strike Missile (PrSM) Increment 2, following successful maritime tests. The contract covers initial procurement, future orders, and continued development, with work performed at Lockheed Martin facilities. The PrSM Increment 2 features a multimode seeker for engaging moving land and maritime targets, advancing the Army's long-range precision fires capability.

Lockheed Martin announced a $200M upgrade for the U.S. Army's M270A2 rocket launchers. The upgrade will integrate the launchers with HIMARS and allied forces, enhancing battlefield connectivity and operational flexibility. The M270A2 and HIMARS share a common fire control system and weapons portfolio, reducing training and logistics differences.

Lockheed Martin received two US Navy contract modifications worth $948m. One is $871.2m for F-35 Lightning II support, with work through 2031. The other is $76.6m for Trident II missile upgrades, completing by 2030. Funding is incremental for the F-35 deal and upfront for the Trident II contract.