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Lockheed Martin Receives Navy Award of More Than $1.1 Billion for Hypersonic Conventional Prompt Strike Missiles

Frank Wolfe Frank Wolfe
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Lockheed Martin Receives Navy Award of More Than $1.1 Billion for Hypersonic Conventional Prompt Strike Missiles

The U.S. Navy on Feb. 15 awarded Lockheed Martin [LMT] a nearly $1.2 billion contract for hypersonic, boost-glide phase Conventional Prompt Strike (CPS) missiles on Zumwalt-class destroyers. DoD said that the contract could be worth $2.2 billion, if the Navy exercises options. Steve Layne, Lockheed Martin's vice president of hypersonic strike weapon systems, said in a company statement on Feb. 17 that "early design work is already underway." Under the contract, Lockheed Martin said that it is to provide "launcher…

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