Lockheed Martin Wins $241 Million U.S. Air Force Contract

Bethesda-based defense giant Lockheed Martin (NYSE: LMT), was awarded a large contract for missile production from the U.S. Air Force.

The $241 Million contract was provided for the Lot 10 production of the Joint Air-to-Surface Standoff Missile (JASSM) Extended Range (ER) variant.

Under the Lot 10 contract Lockheed Martin will produce 191 baseline missiles, 30 ER missiles, Test Instrumentation Kits and provide systems engineering support at its Troy, Alabama facility.

So far the company has built 1,100 JASSMs missiles with a total goal 4,900 JASSM and JASSM-ER missiles.

The autonomous cruise missiles are capable of operation day or night in all weather conditions.

"Lockheed Martin's JASSM baseline missile and ER variant provide the warfighter with critical capabilities and a wide range of mission options not available with any other system," said Alan Jackson, JASSM program director in Lockheed Martin's Missiles and Fire Control business. "Our ongoing focus is to ensure our customers receive a highly reliable and sustainable weapon system at an affordable price to meet their requirements."

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