Lockheed Martin Bags $1.2 Bln Contract From US Army For Precision Strike Missile Increment 2

(RTTNews) - Lockheed Martin Corporation (LMT), an aerospace and defense company, Monday announced that it has secured an indefinite delivery, indefinite quantity or IDIQ contract of $1.2 billion to produce Increment 2 of the Precision Strike Missile or PrSM. This contract was secured after a second flight test demonstrated the missile's ability to engage moving maritime targets. PrSM Increment 2 completed its first flight test in March and its second flight test in August and additional PrSM Increment 2 flight tests are scheduled for 2027.