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.
Under the contract modification, Oracle will continue supporting EHR deployment, training and sustainment through 2031.
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