Lockheed Martin (NYSE: LMT) has secured a potential three-year, $73.8 million contract to begin work on the second phase of the U.S. Armyâs Long Range Precision Fires missile program.
The contract covers the technological maturation and risk reduction phase in which the company will design and fly prototype missiles in preparation for the engineering and manufacturing development phase, Lockheed said Thursday.
LRPF is designed to provide combatant commanders with a long-range missile platform that works to counter time-sensitive targets at a distance of up to 310 miles.
The prototype missile platform includes a surface-to-surface guided weapon and a launch pod missile container designed to be integrated with M142 HIMARS andÂ M270A1 MLRSÂ rocket launchers.
Lockheed completed work on the first phase of the program in May.