Lockheed Martin has been awarded a contract by the US Army for the production of the Precision Strike Missile (PrSM) Increment 2 variant. The indefinite-delivery, indefinite-quantity contract has a ceiling of up to $1.21 billion and aims to expand deep-fires capabilities and replenish strategic inventories.
The contract award signifies increased demand for long-range precision strike weapons and supports the US Army's efforts to modernize its arsenal and expand its deep-fires capabilities.
Lockheed Martin announced on Monday that it has been awarded a contract by the US Army for the production of the Increment 2 variant of its Precision Strike Missile (PrSM). The indefinite-delivery, indefinite-quantity contract has a ceiling of up to $1.21 billion and is set to run through September 13, 2031.
The PrSM Increment 2 is designed to engage moving maritime and relocatable land targets, integrating a combined passive radio frequency and imaging infrared terminal seeker. This variant is intended to replace the Army Tactical Missile System (ATACMS).
The award supports accelerated rapid fielding initiatives to expand deep-fires capabilities and replenish strategic inventories. Lockheed Martin is also increasing production of Increment 1 of the PrSM. The company previously signed a seven-year agreement to increase annual production capacity to 550 missiles, building on a $4.94 billion Army contract awarded last year.
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