U.S. Army Awards Lockheed Martin $1.2 Billion Contract for Precision Strike Missile Production
What happened
On September 21, 2026, the U.S. Army awarded Lockheed Martin a $1.2 billion contract for the production of the Precision Strike Missile (PrSM) Increment 2.
The Context
- Long-range capability: The PrSM replaces the aging ATACMS missile, enhancing U.S. military reach with a range exceeding 500 km.
- Geopolitical pressures: Ongoing conflicts, particularly in Iran, have strained U.S. munitions stocks, necessitating this investment in precision fires.
- Technological advancement: Increment 2 introduces multimode seeker technology, improving target engagement for both maritime and land operations.
The Number
— This is the maximum value of the contract, underscoring the U.S. Army's commitment to modernizing its long-range strike capabilities.
Takeaway
As production ramps up through 2031, expect increased focus on advanced military technologies and potential shifts in defense spending priorities.
Business, investment, entrepreneurship, leadership, and innovation.
"Forbes is known for its coverage of business leaders, market trends, and entrepreneurial ventures with a pro-business editorial stance."
— A47 Editor
Lockheed Martin Awarded $1.2 Billion Army Contract For PrSM Missiles
Lockheed Martin has been awarded a $1.2 billion contract by the U.S. Army to produce the second increment of the Precision Strike Missile (PrSM), which is compatible with the Army's HIMARS mobile rocket launchers. This contract reinforces Lockheed Ma...
Market-moving headlines impacting equities, bonds, and related risk assets.
"Real-time catalysts and volatility drivers across indices and sectors."
— A47 Editor
Lockheed wins US Army missile contract worth up to $1.2 billion
Lockheed Martin has secured a significant contract with the US Army, valued at up to $1.2 billion, to supply missiles, marking a substantial win for the defense contractor in a competitive market.
U.S. company headlines: M&A, product launches, legal/regulatory actions, and leadership moves.
"U.S.-centric corporate tape; good for tracking single-name catalysts."
— A47 Editor
Lockheed Martin secures $1.2B Army contract for missile system
Lockheed Martin has secured a $1.2 billion contract with the Army for a missile system, reinforcing its position in the defense sector. This contract is part of a broader strategy to enhance military capabilities amid increasing global defense spendi...