Lockheed Martin Wins $1.2B Army Deal for PrSM Increment 2 Missile
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Dallas – September 21, 2026 -- The U.S. Army has awarded Lockheed Martin (NYSE:LMT) an indefinite delivery, indefinite quantity contract worth up to $1.2 billion to produce Increment 2 of the Precision Strike Missile (PrSM), following a second flight test that demonstrated the missile's ability to engage moving maritime targets.
Contract moves PrSM Increment 2 from testing into full production
The IDIQ covers initial procurement, future orders, follow-on production and continued development of PrSM Increment 2. Work will be performed at Lockheed Martin facilities and across the company's U.S. industrial base.