The U.S. Air Force has awardedÂ Lockheed MartinÂ (NYSE: LMT)Â aÂ $988.8M modification to definitize a previous contract actionÂ for the design ofÂ a hypersonic weapon prototype.
The company will support the service branchÂ in critical design review, test and manufacturing readiness efforts under theÂ Air-Launched Rapid Response Weapon program, the Department of Defense said Monday.
USAFÂ issued aÂ $480M awardÂ last year for Lockheed’s missiles and fire control business toÂ commence work onÂ ARRW, which is one of two ongoing hypersonic technology prototyping efforts at the service.
According to DoD, the modification finalizes contract price, specifications and terms.
The branch will initially obligateÂ $23M in fiscal 2020 research, development, test and evaluation funds. Work under the modification will take place inÂ Orlando throughÂ Dec. 31, 2022.