Author: Jane Edwards|| Date Published: March 25, 2020
Lockheed Martin (NYSE: LMT) emerged as the final contender for the U.S. Army’s Precision Strike Missile prototyping competition, Jane’s 360 reported Tuesday.
Raytheon (NYSE: RTN) failed to conduct a flight test of its proposed DeepStrike missile for the PrSM program due to technical issues, prompting the service to decide not to provide the company with additional funds to move forward with the competition. The company’s performance period ended Friday, March 20.
The PrSM program seeks to develop a precision-strike, surface-to-surface guided missile to replace the Army Tactical Missile System and that can be fired from the M142 High Mobility Artillery Rocket System and M270A1 Multiple Launch Rocket System to neutralize targets at ranges of up to 499 kilometers.
The Army awarded separate contracts to Raytheon and Lockheed in 2017 to perform tech maturation and risk reduction work.
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