Lockheed Martin has been awarded a substantial contract by the U.S. Army, valued at up to $4.94 billion, to produce Precision Strike Missiles (PrSM). This contract aims to replace the existing Army Tactical Missile System (ATACMS) with Lockheed's advanced long-range precision strike missile, capable of targeting over distances beyond 400 kilometers.
The demand for advanced weaponry has surged globally due to ongoing conflicts, leading the Pentagon to prioritize the procurement of missiles like the PrSM. Following the announcement, Lockheed Martin's shares experienced a more than 1% increase in afternoon trading.
This contract extends through March 30, 2030, with specific work locations and funding details to be determined with each task order. The PrSM program represents a significant advancement in the U.S. Army's long-range precision strike capabilities, offering enhanced mobility and survivability in modern combat scenarios.
The award underscores Lockheed Martin's pivotal role in modernizing U.S. military capabilities, particularly in the realm of precision strike systems. As global defense dynamics evolve, such contracts highlight the ongoing investment in advanced technologies to maintain strategic superiority.
