The U.S. Army has awarded Lockheed Martin (NYSE: LMT) a $219 million contract to produce more Early Operational Capability (EOC) Precision Strike Missiles (PrSM).
The award is the fourth production contract to date for the long-range surface-to-surface missile, which will allow for a significant increase in production capacity to meet Army demand.
Lockheed Martin delivered the first missiles in December 2023 following a successful November production qualification test.
Initial deliveries achieved a major modernization milestone for the U.S. Army, securing needed long-range precision fires capability.
We’re proud to deliver this long-range deterrent capability to our Army customer and continue work to advance the program and production on an aggressive schedule.
Jay Price, vice president of Precision Fires at Lockheed Martin
PrSM production will continue as Lockheed Martin ramps manufacturing efforts to fulfill current EOC contracts. Additional testing is also planned this year to include an Army-led user test.
PrSM is the U.S. Army’s next generation long-range precision strike missile capable of neutralizing targets beyond 400 kilometers. The new surface-to-surface weapon features open systems architecture design for maximum flexibility, is modular for future growth and is HIMARS and Multiple Launch Rocket System (MLRS) compatible.
Lockheed Martin uses digital tools such as augmented reality, ARISE™ advanced modeling and simulation, data analytics, and software factory to advance development and improve producibility, quality and performance.
Source: Lockheed Martin news release
