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Lockheed Martin announced Monday that the U.S. Army has awarded nearly $5 billion worth of contracts to produce the next generation of long-range precision strike missiles.
The deal is worth up to $4.94 billion and confirms that Lockheed Martin will provide the Army with precision strike missiles (PRSMs). It considers weapons to be the successor to the Army Tactical Missile (ATACM).
Missiles are compatible with the platforms used by the Army and Marines, as well as the platforms used by the High Mobile Artillery Fire Systems (HIMARS) and Multiple Launch Rocket Systems (MLR), which are platforms used with many US allies that have acquired or intended to have those systems.
“Lockheed Martin is committed to providing this deterrent capability to support the Army's vision of deadly and resilient forces,” said Carolyn Orzechovsky, Vice President of launchers and missiles at Lockheed Martin. “Our team is focused on moving forward with production at speed and scale, ensuring that fighters receive this critical capability and maintain peace through strength.”
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During the 2019 US Army flight test, a Lockheed Martin Himmer fires a precision strike missile (PRSM). (Commentary by the US Army, Lockheed Martin/Fox News)
According to Lockheed, the PRSM has 499 kilometers (area above 310 miles) and was designed with an open architecture that allows for phased improvements to achieve a longer range.
The company has worked on several variations of the PRSM, including land ship missiles, long-range variants, and versions designed to carry a variety of explosive ammunition.
| Ticker | safety | last | change | change % |
|---|---|---|---|---|
| LMT | Lockheed Martin Inc. | 474.90 | +11.20 |
+2.42% |
The Army PRSM contract is structured as an indefinite delivery, indefinite quantity contract designed to provide flexibility in cases where the exact quantity or delivery schedule is unknown.
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PRSM during the October 2021 launch of the extended range at Space Force-based Vandenberg. (Commentary by the US Army, Lockheed Martin/Fox News)
This PRSM contract is for the Army, but the US Marines and Australian Army indicate that they intend to obtain the PRSM.
Lockheed Martin, which secures a Precision Strike missile contract, occurs after missing a fighter contract for the Air Force's Next Generation Air Control (NGAD).
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