Lockheed Martin introduced Monday that the U.S. Military had awarded it a contract price almost $5 billion to supply its next-generation long-range precision strike missile.
The contract is price as much as $4.94 billion and can see Lockheed Martin present Precision Strike Missiles (PrSM) to the Military, which views the weaponry because the successor to the Military Tactical missile (ATACM).
The missiles are appropriate with the Excessive Mobility Artillery Rocket System (HIMARS) and A number of Launch Rocket System (MLRS), platforms utilized by the Military and Marine Corps together with a variety of U.S. allies which have acquired these programs or intend to.
“Lockheed Martin is committed to delivering this deterrent capability in support of the Army’s vision for a lethal and resilient force,” stated Carolyn Orzechowski, VP of Ppecision fires launchers and missiles at Lockheed Martin. “Our team remains focused on advancing the production at speed and scale, ensuring the warfighter receives this critical capability to maintain peace through strength.”
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Based on Lockheed, the PrSM has a spread past 499 kilometers, or 310 miles, and it was designed with an open structure that enables the aptitude to be improved incrementally to attain longer ranges.
The corporate has labored on a number of variants of the PrSM, together with variations designed as land-based anti-ship missiles, longer-range variants and to hold completely different explosive munitions.
Ticker Safety Final Change Change % LMT LOCKHEED MARTIN CORP. 447.34 +0.88
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The Military’s PrSM contract is structured as an indefinite supply, indefinite amount contract, which is designed to offer flexibility when the precise amount or supply schedule is unknown.
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Although this PrSM contract is for the Military, the U.S. Marine Corps in addition to the Australian Military have indicated they intend to amass the PrSM.
Lockheed Martin securing the precision strike missile contract comes after it missed out on the Air Pressure’s subsequent technology air dominance (NGAD) fighter jet contract, which is valued at greater than $20 billion and was awarded to Boeing to switch Lockheed’s F-22 Raptor.
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