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Air Force

Lockheed Martin Wins $87 Million LRASM Production Contract, Tests Ship Launch

Thursday, July 27th, 2017

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Lockheed Martin Wins $87 Million LRASM Production Contract, Tests Ship Launch

A Lockheed Martin rendering of LRASM. (Image: Lockheed Martin).

The U.S. Navy and Air Force awarded Lockheed Martin [LMT] an $86.5 million Long Range Anti-Ship Missile (LRASM) production, the company said Wednesday.The contract is the first production award for an air-launched variant of LRASM and includes 23 missiles with engineering support that fall under low-rate initial production (LRIP) Lot 1. Lockheed Martin expects several annual production lots to deliver further missiles to the Navy and Air Force.A Defense Department contract announcement said this is a sole-source acquisition with the…

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