Lockheed Books $158M Army Contract to Produce More Precision Strike Missiles

Lockheed Martin (NYSE: LMT) has secured a $158 million contract for the second early operational capability production of the U.S. Army’s new surface-to-surface missile system.

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The new order came after the service branch completed its manufacturing readiness assessment of the Precision Strike Missiles program, Lockheed said Tuesday.

The Army ordered the first EOC batch of the system in September 2021.

PrSM is a long-range precision-strike missile that can be fired from the M142 High Mobility Artillery Rocket System and M270A1 Multiple Launch Rocket System to engage targets at ranges greater than 400 kilometers.

The initial version of the next-generation missile system is in the engineering and manufacturing development phase, which is the last developmental stage before full-scale production in 2025.

Lockheed expects to conduct the next set of flight tests for PrSM sometime in 2023.

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