Lockheed Martin lands $1.2B Army deal for PrSM missiles

[Lockheed Martin Aeronautics Company facility in Fort Worth, TX, USA.] JHVEPhoto * Lockheed Martin (LMT [https://seekingalpha.com/symbol/LMT]) announced on Monday that it received an IDIQ contract worth up to $1.2B from the U.S. Army for the Precision Strike Missile (PrSM) Increment 2. * The contract covers [https://seekingalpha.com/pr/20658594-lockheed-martin-secures-1_2b-contract-for-precision-strike-missile-increment-2-after-second] initial production, future orders, follow-on production, and continued development of the missiles. * PrSM Increment 2 recently completed its second flight test in August, demonstrating its ability to engage moving maritime targets. However, the additional tests are planned for 2027.