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  • Tuesday, November 19, 2024
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Lockheed Books $615M Army Follow-on Award to Build HIMARS Munition Launchers

Lockheed Martin (NYSE: LMT) has booked a $615 million follow-on contract from the U.S. Army to produce more High Mobility Artillery Rocket Systems.

The award supports full-rate production of HIMARS launch platforms and support equipment to meet domestic and international orders, the company said Friday.

HIMARS is part of Lockheed’s multiple launch system portfolio, with six guided MLRS or one tactical missile system mounted on a 5-ton medium tactical vehicle.

In 2022, the company received contracts to ramp up and expedite the production of the strike weapons system, which can be transported on a C-130 aircraft, or larger air or maritime vehicles.

“We are working closely with our customer and suppliers to ramp production capacity and meet the urgent need for this combat-proven launcher,” said Jay Price, vice president of precision fires at Lockheed’s missiles and fire control business.

He added that the company has take steps to cut its HIMARS manufacturing lead time.

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