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Army

Army Increases Lockheed Martin’s GMLRS Contract Ceiling By $3.43 Billion

By Matthew Beinart

Tuesday, September 3rd, 2024

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Army Increases Lockheed Martin’s GMLRS Contract Ceiling By $3.43 Billion

GMLRS Alternative Warhead Firing Photo: Lockheed Martin

The Army has increased the ceiling value of its current Guided Multiple Launch Rocket System (GMLRS) contract with Lockheed Martin [LMT] by $3.43 billion, the Pentagon said on Aug. 30. The new contract modification extends Lockheed Martin’s work on the current Indefinite-Delivery Indefinite-Quantity (IDIQ) deal for GMLRS rocket production through October 2027, according to DoD. “This ceiling modification will allow the increase of inventory of GMLRS rockets and associated equipment. GMLRS quantities awarded under the IDIQ will be based on…

Budget

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