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Air Force Awards Lockheed Martin $172 Million for Long-Range Anti-Ship Missiles

Vivienne Machi By
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The Air Force on Thursday awarded Lockheed Martin [LMT] a $172 million fixed-price incentive-fee contract for Long Range Anti-Ship Missiles (LRASMs) Lot 2 production.The contract includes production of 50 LRASMs. The long-range anti-ship missile, a stealthy cruise missile being developed for use on both Air Force and Navy platforms, has undergone several flight tests since Lockheed Martin was awarded over $86 million for 23 low-rate initial production Lot 1 units last July. The missile is based off of the Air Force’s…

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