State Dept OKs $990M Lockheed Anti-Ship Missile Sale to Australia

The State Department has approved a potential $990M foreign military sale of Lockheed Martin-built (NYSE: LMT) long-range anti-ship missile systems to Australia.

The FMS deal will cover the procurement of 200 AGM-158C LRASM systems and 11 units of the system’s ATM-158C telemetry variant, the Defense Security Cooperation Agency said Friday.

Australia also seeks to purchase captive air training missiles, containers and support tools and materials, as well as logistics, documentation and training services through the proposed sale.

DSCA noted the proposed transaction will mark the country’s first procurement agreement of the LRASM platform.

The Australian government plans to equip its military’s F-18 aircraft with the missile technology as part of critical sea-lane defense efforts.

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