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Lockheed Awarded $99M USAF Contract to Boost JASSM, LRASM Missile Production Rates

Lockheed Martin (NYSE: LMT) has received a potential $99.2M contract to purchase tools and equipment needed to maximize the production rate of Joint Air-to-Surface Standoff Missiles and Long Range Anti-Ship Missiles for the U.S. Air Force.

Work will take place in Orlando, Fla., through Feb. 28, 2022, the Department of Defense said Wednesday.

The Air Force Life Cycle Management Center awarded the sole-source contract and the increased missile production would occur as a new facility enters the construction phase.

The company recently completed the initial delivery of LRASMs to the service branch following the completion of flight test, integration, simulation and modeling requirements.

JASSM is a 2K-pound long-range, air-to-ground weapon system geared for use against moving and fixed targets.

LRASM is a precision-guided, long-range missile built to counter anti-ship attacks using a multimodal sensor suite, anti-jam GPS platform, blast fragmentation warhead and a weapon data link.

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