Lockheed Martin (NYSE: LMT) has received a $124.9 million contract modification to produce 42 more Long Range Anti-Ship Missiles for the U.S. Air Force and Navy.
The funds cover lot six production of LRASMs along with two dozen weapons datalinks, the Department of Defense said Monday.
DOD pegged the contract’s cumulative face value at $549.7 million and announced the modification nine months after Lockheed was awarded a $414 million contract to produce 137 missile systems. plus tooling and test equipment, under lots four and five of the program.
According to the defense company, LRASM is operational on the Navy’s F/A-18E/F and USAF’s B-1B aircraft and the anti-ship weapon is designed to help military operators detect a specific target within groups of vessels.