Report: Lockheed Advances in Army’s Precision Strike Missile Competition

Jeff Brody

Lockheed Martin (NYSE: LMT) emerged as the final contender for the U.S. Army’s Precision Strike Missile prototyping competition, Jane’s 360 reported Tuesday.

Raytheon (NYSE: RTN) failed to conduct a flight test of its proposed DeepStrike missile for the PrSM program due to technical issues, prompting the service to decide not to provide the company with additional funds to move forward with the competition. The company’s performance period ended Friday, March 20.

The PrSM program seeks to develop a precision-strike, surface-to-surface guided missile to replace the Army Tactical Missile System and that can be fired from the M142 High Mobility Artillery Rocket System and M270A1 Multiple Launch Rocket System to neutralize targets at ranges of up to 499 kilometers.

The Army awarded separate contracts to Raytheon and Lockheed in 2017 to perform tech maturation and risk reduction work.

You may also be interested in...

Naval Strike Missile

State Dept Clears $300M Sale of Raytheon Technologies-Made Naval Missiles to Romania

The State Department approved Romania's request to buy anti-ship missile systems manufactured by Raytheon Technologies (NYSE: RTX) through a potential $300M foreign military sale transaction with the U.S. government. The company's missiles and defense business would deliver two units of the Naval Strike Missile Coastal Defense System and complementary equipment to Romania's government under the potential deal, the Defense Security Cooperation Agency said Friday.

August Jackson Senior Director Deltek

ArchIntel’s AI in Competitive Intelligence Virtual Event to Discuss Maintaining Competitive Advantage

Artificial intelligence (AI), machine learning (ML) and big data have transformed how businesses conduct competitive intelligence (CI) and how our stakeholders use the developed analyses. Additionally, the federal government has integrated emerging technologies to remain competitive across the defense landscape. To register for ArchIntel’s AI in Competitive Intelligence Virtual Event, as well as view upcoming opportunities, visit ArchIntel’s Event Page.