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Lockheed Unit Books $1.2B in Air Force Cruise Missile Production Contracts

A Lockheed Martin (NYSE: LMT) business segment has received two U.S. Air Force contracts totaling $1.19 billion to manufacture cruise missiles.

The company’s missile and fire control unit will produce lot 21 Joint Air-to-Surface Standoff Missile systems under a $750.5 million firm-fixed-price contract and lot seven Long-Range Anti-Ship Missile systems under a separate $443.8 million award, the Department of Defense said Thursday.

JASSM containers, tooling and test equipment and spares are included on the first award, which also involves foreign military sales to Australia. The second contract does not have an FMS requirement and includes LRASM dummy air training articles.

Services have an expected completion dates of Aug. 18, 2027, and Jan. 18, 2027, respectively.

The Air Force Life Cycle Management Center at Eglin AF Base acted as the contracting activity and is obligating the full amounts of both contracts from multiple funding sources.

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