Lockheed Awarded $167M Air Force Contract for Long-Range Anti-Ship Missiles

Lockheed Martin (NYSE: LMT) has received a three-year, $167.5M contract to supply long-range anti-ship missile systems to the U.S. Air Force.

The company’s missiles and fire control systems unit will provide 48 LRASMs along with tooling and test equipment through the sole-source contract, the Department of Defense said Tuesday.

The branch will obligate the full contract amount at the time of award from fiscal 2019 funds allotted for USAF missile and Navy weapon procurement.

DoD expects work to be complete by April 6, 2023.

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