Lockheed to Continue Precision Strike Missile Production With $175M Army Award

Lockheed Martin (NYSE: LMT) has booked a three-year, $175.2 million contract modification to manufacture additional surface-to-surface precision-strike guided missile systems for initial U.S. Army deployment.

The award funds work on the first and second early operational capability production batches of the Precision Strike Missiles, according to a notice posted Wednesday on SAM.gov.

PrSM offers the warfighter a long-range and deep strike capability to target, engage and neutralize targets at ranges greater than 400 kilometers.

Lockheed and Army expect the system to enter full-scale production in 2025 after the engineering and manufacturing development phase is completed.

The service branch ordered the second PrSM EOC batch in September 2022.

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