Lockheed Secures $818M Lot 17 & 18 JASSM-ER Production Contract

Jeff Brody

The U.S. Air Force has awarded Lockheed Martin (NYSE: LMT) a potential $818.2M contract to manufacture a total of 790 Joint Air-to-Surface Standoff Missiles for domestic and international defense clients.

Lockheed will provide 360 extended-range JASSMs to the U.S. military and another 40 missiles to foreign military sales customers under lot 17 production work, the Department of Defense said Thursday.

DoD added the company will produce 390 lot 18 JASSM-ER units.

The Air Force Life Cycle Management Center will obligate $767.5M in fiscal 2018 missile procurement funds and $50.7M in FMS funds at the time of award.

Work under the sole-source contract will take place in Orlando, Fla., through Oct. 31, 2024.

JASSM is designed with anti-jam GPS features that support the identification of fixed and relocatable targets.

The missile was integrated with various USAF aircraft such as the B-52 bomber, F-16 and F-15E platforms.

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