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  • Wednesday, April 24, 2024

Lockheed Gets $391M Air Force Contract to Build Additional Extended-Range Cruise Missiles


Lockheed Martin (NYSE: LMT) has received a three-year, $390.7M contract from the U.S. Air Force to produce lot 16 Joint Air-to-Surface Standoff Missile systems.

The company will provide 360 extended-range JASSMs, as well as three separation test vehicles and one flight test vehicle, tooling and test equipment for foreign military sales customers under the sole-source contract, the Defense Department said Friday.

The Air Force will allocate fiscal 2018 missile procurement and FMS funds on the contract, which runs through through Oct. 31, 2021.

JASSM-ER is designed to greater range than the original missile system and equipped with an infrared seeker and a digital anti-jam GPS receiver.

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