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Lockheed Martin received a $1.2B contract from the U.S. Army to produce PrSM Increment 2 missiles, capable of striking moving maritime and ground targets. The missiles feature a multi-mode seeker and were successfully tested in 2026. Production will begin upon contract finalization, with potential future increases based on demand. According to Lockheed Martin, the company plans to quadruple overall PrSM production.

Lockheed Martin (LMT) secured a $1.2B contract for Precision Strike Missile (PrSM) production, replacing the older ATACMS. The PrSM has a 500km range and can target moving land and naval assets. Recent tests were successful, but its use in Iran has sparked controversy. The U.S. Army aims to increase production amid missile shortages.

The U.S. Army awarded Lockheed Martin a $1.2B contract for the production of Increment 2 of the Precision Strike Missile (PrSM). The contract covers initial production and future orders, with PrSM Increment 2 featuring a multimode seeker for land and maritime targets. Lockheed Martin is conducting flight tests and plans to expand production capacity.

Lockheed Martin (LMT) received a U.S. Army contract worth up to $1.2B for PrSM Increment 2 missiles, marking a shift from development to production. The contract covers initial procurement, future orders, and continued development. The missile's multimode seeker enables engagement of moving land and sea targets, expanding its capabilities. Lockheed Martin plans to quadruple production as demand grows, with additional flight tests scheduled for 2027.

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Lockheed Martin (LMT) won a $1.2B U.S. Army contract for the next version of its Precision Strike Missile, moving the program toward production. The contract covers initial purchases, additional orders, and continued development. The missile completed its second flight test in August, demonstrating its ability to engage moving maritime targets. Lockheed Martin plans to expand manufacturing capacity to support increased production.