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Lockheed to Develop Joint Air-to-Surface Standoff Missile Variant Under $240M Air Force Contract

Lockheed Martin (NYSE: LMT) business has received a $240 million contract from the U.S. Air Force to develop a variant of the company’s cruise missile system offering.

The missiles and fire control segment at Lockheed will conduct development, test and integration efforts related to JASSM AGM-158D, the Department of Defense said Thursday.

USAF is obligating $31.2 million at the time of award from the branch’s fiscal 2023 research, development, test and evaluation funds.

Contract work will occur in Orlando through Feb. 1, 2025.

Lockheed designed the JASSM weapon system to help military aircrews guard against hostile air defense systems.

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