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USAF Awards Lockheed $172M Contract for Lot 2 Long-Range Anti-Ship Missiles

The U.S. Air Force has awarded Lockheed Martin (NYSE: LMT) a potential three-year, $172.1M to manufacture a second batch of Long-Range Anti-Ship Missiles.

Lockheed’s missiles and fire control business will build 50 lot 2 LRSMs for the military service at a contractor facility in Orlando, the Defense Department said Thursday.

The Pentagon expects the company to finish contract work by Dec. 31, 2021.

USAF awarded the company an $86M modification in July of last year for the production of 23 lot 1 missile systems.

LRASM works to help the service branch detect and counter sea-based threats through the system’s multimodal sensor package, weapon data link and updated digital anti-jam GPS technology.

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