Lockheed Secures $431M Army HIMARS Full-Rate Production Contract

The U.S. Army has awarded Lockheed Martin (NYSE: LMT) a potential three-year, $430.9 million contract to procure M142 High Mobility Artillery Rocket System launchers for the service branch and multiple foreign military partners.

Lockheed secured $209.3 million in initial procurement funds from the Army for HIMARS full-rate production services, the Department of Defense said Thursday.

The branch’s contracting command received one bid for the contract through an online solicitation. Work will occur in Alabama, Arkansas, Florida, New Jersey, Pennsylvania and Texas.

HIMARS, a wheeled precision strike weapons system transportable via C-130 aircraft, can launch the Guided Multiple Launch Rocket System and the Army Tactical Missile System.

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