Lockheed Martin wins U.S. Army missile production contract worth up to $1.2 billion
Demand for long-range strike weapons is driving another production award for Lockheed Martin in the U.S. defense sector. The company says the U.S. Army contract covers the Increment 2 version of the Precision Strike Missile, a variant built to engage moving maritime targets.
Highlights
- Lockheed Martin secured a contract worth up to $1.2 billion from the U.S. Army to produce the Increment 2 Precision Strike Missile.
- The contract follows a second successful flight test of the PrSM Increment 2, which demonstrated capability to engage moving maritime targets.
- Lockheed Martin's expanded annual production capacity to 550 missiles builds on a previous $4.94 billion Army contract amid increased demand for precision fires.
Contract scope and missile program progress
As reported by Reuters, citing Lockheed Martin, the company said on Monday that it has secured a contract worth up to $1.2 billion from the U.S. Army to produce the Increment 2 variant of the Precision Strike Missile, or PrSM.PrSM is the Army's next-generation long-range precision strike weapon and is designed to replace the Army Tactical Missile System, known as ATACMS. Lockheed Martin said the latest award follows a second successful flight test of the Increment 2 missile, which demonstrated the weapon's ability to engage moving maritime targets.
Production expansion and defense market impact
The award arrives as Lockheed Martin ramps up output of the Precision Strike Missile amid rising demand for long-range strike capabilities. The new contract adds to a broader production push tied to U.S. military modernization and higher requirements for precision fires.In March, the defense company signed a seven-year agreement with the U.S. Department of War to increase annual production capacity to 550 missiles. That expansion builds on a $4.94 billion Army contract awarded last year and follows the weapon's first combat use during Operation Epic Fury.
Our earlier article on the U.S.-Japan-South Korea trilateral agenda described how the three countries reaffirmed coordination on Indo-Pacific security and regional stability, alongside broader economic and technology cooperation. We noted that the statement also reiterated commitments to counter North Korea’s nuclear and ballistic missile programs while strengthening defense and maritime coordination, energy resilience, and supply-chain security.
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