Lockheed Martin’s Missiles and Fire Control business has secured a potential $1.9 billion modification to a previously awarded contract from the U.S. Air Force for the procurement of advanced, long-range missiles.
JASSM, LRASM Contract Modification Details
The Department of Defense said Thursday the modification to the firm-fixed-price, undefinitized contract covers the production of Joint Air to Surface Standoff Missile, or JASSM, within Production Lot 23 and Long-Range Anti-Ship Missile, or LRASM, within Lot Nine. In addition, Lockheed Martin will provide for the economic order quantity for JASSM Lot 24 and LRASM Lot 10.
The company will perform work in Orlando, Florida. The contract is expected to run through July 31, 2029.
With the additional $1.93 billion, the contract is now valued at $5.18 billion. The Air Force Life Cycle Management Center at Eglin Air Force Base in Florida will allocate the funds for the project at the time of the award. The amount of $684.2 million will come from the Air Force’s fiscal 2024 missile procurement funds, while $612.7 million will be obligated from the service branch’s fiscal 2025 missile procurement funds. Another $149.2 million from the Navy’s fiscal 2025 weapon procurement funds will be used for the project.
The Lockheed Martin business unit previously secured a $3.23 billion firm-fixed-price contract from the Air Force for the production of JASSM and LRASM missiles in September 2024.
