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Lockheed, Raytheon Win Air Force Contracts For New Nuclear Cruise Missile

By Marc Selinger

Monday, August 28th, 2017

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Lockheed Martin [LMT] and Raytheon [RTN] received contracts Aug. 23 to mature designs for the Long Range Standoff Weapon (LRSO), a replacement for the U.S. Air Force’s aging, nuclear-armed, air-launched cruise missile (ALCM).Each company has been awarded a 54-month contract valued at about $900 million for the program’s technology maturation and risk reduction (TMRR) phase. When the contracts wrap up in 2022, the Air Force plans to pick one of the firms for LRSO’s engineering and manufacturing development, production and deployment."This weapon will…

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