The U.S. Army has awarded Lockheed Martin (NYSE: LMT) a potential two-year, $219.7 million contract modification to supply surface-to-surface precision strike missiles to the service branch.
Work on the PrSM Early Operational Capability Lot 3 requirement will occur in Grand Prairie, Texas, through March 6, 2026, the Department of Defense said Tuesday.
Army Contracting Command will obligate the full contract amount using missile procurement funds for fiscal years 2023 and 2024, fiscal 2023 reimbursable cooperative funds and Army funds.
The service executed the contract option through a cost-plus-fixed-fee, firm-fixed-price contract awarded in September.
PrSM is the Army’s next-generation missile that works to provide the warfighter with a long-range precision fire capability to neutralize targets at ranges greater than 400 kilometers. The weapon system comes with an open systems architecture and can be launched from M142 High Mobility Artillery Rocket Systems and M270A2 Multiple Launch Rocket Systems.
