Lockheed Secures $322M Contract to Support Navy Anti-Ship Missile Integration, Testing

Lockheed Martin (NYSE: LMT) has received a $321.8 million contract from the U.S. Navy to support the integration and test phase of the Long Range Anti-Ship Missile program.

The Defense Department said Friday such a contract would complete all remaining efforts to design LRASM’s hardware and software, retire open risks, build and assess missile test articles against system requirements and prepare for production and deployment of the system.

The contract also covers full system integration, inclusion of LRASM manufacturing processes in the Joint Air-to-Surface Standoff Missile – Extended Range production initiative, cybersecurity and interoperability, safety and utility demonstrations.

Lockheed’s missiles and fire control business will perform work in Orlando and Ocala, Florida as well as in Troy, Alabama, through August 2019.

The Naval Air Systems Command obligated $42 million at the time of the award from fiscal 2016 research, development, test and evaluation funds of the service branch.

LRASM is based on the JASSM-ER system and designed to be launched from guided-missile destroyers and cruisers.

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