Published 4 days ago • loading... • Updated 1 day ago

Army awards nearly $5B contract for Precision Strike Missiles

The U.S. Army awarded Lockheed Martin a contract worth nearly $5 billion for the production of Precision Strike Missiles , aimed at enhancing strike capabilities.
Lockheed Martin's PrSM has a range exceeding 499 kilometers and is compatible with existing military launch systems used by the Army and Marine Corps.
The contract is structured as an indefinite delivery, indefinite quantity contract to ensure flexibility in quantities and delivery schedules.
The contract, expected to be completed by March 2030, follows a competitive process where only one bid was submitted for the project.

Insights by Ground AI

Does this summary seem wrong?

14 Articles

All

Left

Center

Right

Fox Business

Lean Right

Lockheed Martin snags $5 billion US Army missile contract

Lockheed Martin announced it received a roughly $5 billion contract from the U.S. Army to provide Precision Strike Missiles (PrSM) that will replace the Army Tactical Missile.

2 days ago·United States

Read Full Article

NEWSREP

Lean Right

Lockheed Martin Secures $4.9B Deal to Deliver Precision Strike Missile to Army

Lockheed Martin's $4.9B contract to deliver the long-range Precision Strike Missile to the US Army marks a new era in strike capabilities. #USArmy #PrecisionStrikeMissile #PrSM

2 days ago

Read Full Article

insidedefense.com

Center

Army awards nearly $5B contract for Precision Strike Missiles

The Army awarded prime contractor Lockheed Martin a $4.9 billion contract to produce more Precision Strike Missiles last week, the Pentagon announced Friday. According to the Defense Department notice, the contract is for Increment 1 of the PrSM program. Work is expected to be completed in March 2030. The indefinite delivery, indefinite quantity contract allows the Army to “efficiently order PrSM units, providing a significant increase in produc…

3 days ago

Read Full Article

twz.com

Smaller Rockets To Provide Key Artillery Firepower Boost Sought By Army

A new five-inch (127mm) artillery rocket Lockheed Martin is developing for the U.S. Army primarily as a low-cost training round could evolve into an operational munition. The service already wants to increase the magazine depth of its existing Multiple Launch Rocket System (MLRS) and High Mobility Artillery Rocket System (HIMARS) launcher vehicles, which can currently fire various 227mm rockets and short-range ballistic missiles. This is part of…

1 day ago

Read Full Article

AFCEA International

Lockheed Martin Aeronautics Secures Contract for Flight Program Update

Lockheed Martin Aeronautics Corp., Fort Worth, Texas, was awarded a ceiling $265,960,280 undefinitized contract action for F-16 System Pr

1 day ago

Read Full Article

Overt Defense

Japan Signs Contract For Development Of New Surface-To-Surface Missile

Japan’s defense ministry announced April 1, the signing of a contract with Mitsubishi Heavy Industries for the development of long-range surface-to-surface missiles capable of engaging both land and sea targets. The 32.3 billion yen contract (approximately $216 million) awarded on March 31 is described as an initial contract that will fund research and development from fiscal year 2025 to fiscal year 2028, with development expected to continue t…

1 day ago

Read Full Article

Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/year