The U.S. Army awarded Lockheed Martin (NYSE: LMT) a $237.5M contract to perform hardware design modification on the Guided Multiple Launch Rocket System
Lockheed will also support the qualification process for the modified GMLRS design under the fixed-price-incentive contract, the Department of Defense said Friday .
Work is scheduled to occur through November 2021 in Grand Prairie, Texas.
The Army solicited and received one bid for the project and obligated $81.7M in fiscal 2019 research, development, test and evaluation funds at the time of the award.
GMLRS is designed to help the military service engage point and area targets at a range of up to 43.5 miles through indirect precision fires.
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