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Lockheed Martin Receives $62 Million To Move Onto Precision Strike Missile EMD Phase

Matthew Beinart By
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Lockheed Martin Receives $62 Million To Move Onto Precision Strike Missile EMD Phase
Lockheed Martin's Precision Strike Missile (PrSM)

The Army has awarded Lockheed Martin [LMT] a $62 million contract modification to move onto the engineering and manufacturing development phase of the Precision Strike Missile (PrSM) program. The deal follows a completed Milestone B evaluation and a series of successful PrSM flight tests. Lockheed Martin last received a $180.7 million contract last June for the PrSM Enhanced Technical Maturation and Risk Reduction (ETMRR) phase, which covered the build of four missiles, three more demonstrations and subsystem qualification work (Defense…

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