Lockheed Nabs $1.2 Billion Army Production Contract For Seeker-Enabled PrSM Inc. 2

The U.S. Army awarded Lockheed Martin a $1.21 billion contract for the Early Operational Capability production of Precision Strike Missile Increment 2, the seeker-enabled PrSM variant designed to engage moving maritime and land targets. The indefinite-delivery, indefinite-quantity award combines cost-plus-fixed-fee and firm-fixed-price elements, with work locations and funding determined as individual orders are issued. The contract moves Increment 2 beyond development and is scheduled for completion by September 13, 2031, although the number of missiles covered has not been disclosed.