Lockheed Martin awarded $1.2B U.S. Army contract for PrSM missiles

The U.S. Army has awarded Lockheed Martin a contract valued at approximately $1.2 billion for the Precision Strike Missile (PrSM) Increment 2. This indefinite-delivery/indefinite-quantity contract aims to achieve early operational capability for the system, which will include a multimode seeker to expand capabilities to maritime strike operations.

The PrSM Increment 2, also referred to as the Land-Based Anti-Ship Missile (LBASM), utilizes a combination of passive location, electro-optical infrared sensors, and GPS/INS guidance to target moving maritime objects. The contract is scheduled for completion by September 13, 2031.

This development follows previous investments by the Pentagon to boost PrSM production and an $8.4 billion modification to extend the ordering period for PrSM Increment 1 production through 2032.