Lockheed Martin (NYSE: LMT) has won a $197 million contract from the U.S. Army to continue production of guided multiple launch rocket system unitary rockets, according to a company statement.
This award exercises an option on the GMLRS production lot 7 contract that Lockheed won in July 2012, increasing the total contract value to $550.8 million.
“Our top priority is to ensure that our warfighters are equipped with the most effective, affordable and dependable weapon system available, ” said Scott Arnold, vice president of precision fires at Lockheed’s missiles and fire control.
This option allows the Army to procure the rockets for less than if a separate 2013 production contract were issued.
GMLRS deliveries to the Army and Marine Corps will begin in September 2014.
Work will be performed at the Lockheed facilities located in Camden, Ark., and Dallas, Tx.
According to its statement, Lockheed has produced more than 20, 000 GMLRS rockets.
This all-weather, long-range rocket is packaged in an MLRS launch pod and fired from Lockheed’s HIMARS or M270 family of launchers. It is designed for fast deployment and precision strike.
