Lockheed to Modify Army Rocket Hardware Design Under $238M Contract

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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