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Lockheed to Develop Prototype Missiles Under $74M Army LRPF Phase 2 Contract

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. Army’s 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 and M270A1 MLRS rocket launchers.

Lockheed completed work on the first phase of the program in May.

The award comes a month after Raytheon (NYSE: RTN) received a separate $116.4 million contract for the LRPF program’s tech maturation phase.

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