Lockheed Awarded $988M Definitive Contract for Hypersonic Weapon Prototyping Work

Jeff Brody

The U.S. Air Force has awarded Lockheed Martin (NYSE: LMT) a $988.8M modification to definitize a previous contract action for the design of a hypersonic weapon prototype.

The company will support the service branch in critical design review, test and manufacturing readiness efforts under the Air-Launched Rapid Response Weapon program, the Department of Defense said Monday.

USAF issued a $480M award last year for Lockheed's missiles and fire control business to commence work on 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 obligate $23M in fiscal 2020 research, development, test and evaluation funds. Work under the modification will take place in Orlando through Dec. 31, 2022.

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