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Lockheed Martin Wins $1.2B Army Missile Contract

September 22, 2026

2 min read

Key Takeaways

Lockheed Martin secures $1.2B IDIQ contract for PrSM Increment 2.
Contract covers initial procurement, production, and development.
PrSM Increment 2 adds multimode seeker for moving land and maritime targets.
Additional flight tests scheduled for 2027.

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Strategic Implications

This contract award may indicate the US Army's growing interest in long-range precision strike capabilities. The addition of a multimode seeker suggests an expansion of the Army's mission set, which could benefit Lockheed Martin's position in the defense market and may lead to further investments in precision strike technologies.

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What Happened

Precision Strike Missile Production Advances With New IDIQ Contract

The US Army has awarded Lockheed Martin an indefinite delivery, indefinite quantity contract worth up to $1.2 billion for the production of Precision Strike Missile (PrSM) Increment 2. This award moves PrSM Increment 2 from development and testing into production, supporting the Army’s next-generation long-range precision fires capability. The contract includes initial procurement, future orders, follow-on production, and continued development, with work to be performed at Lockheed Martin facilities and across its US industrial base. This development was reported by Unknown Source.

Source | Originally Published: September 21, 2026

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