The U.S. Air Force has awarded Lockheed Martin (NYSE: LMT) two firm-fixed-price contracts worth $842.7 million combined to build more anti-ship and air-to-surface missile systems.
Lockheed will produce 137 Long Range Anti-Ship Missiles for the program’s fourth and fifth production lots under a $414.3 million award that also involves foreign military sales, the Department of Defense said Monday.
DOD added that the company will manufacture 400 units of Lot 19 extended-range Joint Air-to-Surface Standoff Missiles along with missile containers, hardware spares, testing platforms and training support under a separate $428.4 million contract, the Department of Defense said Monday.
The department expects Lockheed to complete the additional LRASMs on March 21, 2025, and the JASSM-ERs on July 31 of the same year.
LRASM is based on the JASSM-ER system and designed to help military operators reach targets in the open ocean.
An air-launched version of the anti-ship missile weapon is operational on the Air Force’s B-1B bombers and the Navy’s F/A-18E/F fighter jets, Lockheed noted.
