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Lockheed Martin Grabs $66 Million JAGM Contract

Valerie Insinna
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Lockheed Martin Grabs $66 Million JAGM Contract
JAGM concept. Image: Lockheed Martin.

Lockheed Martin [LMT] locked up a $66.3 million contract for the next stage of the Joint Air-to-Ground Missile (JAGM) competition, which will replace the ubiquitous Hellfire missile currently used by 28 countries.The Army announced Friday it would award a fixed price incentive firm target contract to Lockheed Martin  for the engineering, manufacturing and development (EMD) phase. The contract also includes two options for low-rate initial production (LRIP), each worth about $60 million, which would be exercised after a Milestone C…

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