Lockheed Martin Corporation (LMT) has received a modification contract worth US$ 13.3 million for the production of the ninth batch of long-range anti-ship missiles (LRASM). The contract was awarded by the U.S. Air Force Lifecycle Management Center at Eglin Air Force Base, Florida. Work related to this transaction will be performed in Orlando, Florida, and is expected to be completed by December 31, 2028. The latest modification increases the total value of the contract to 5.19 billion US dollars.
LRASM (Long-Range Anti-Ship Missile) is a highly accurate intelligent anti-ship missile weapon designed to defeat various surface threats at very long ranges. The missile is capable of autonomously navigating to the target and delivering an accurate warhead from a safe distance. The LRASM was developed based on the combat-proven JASSM (Joint Air-to-Surface Standoff Missile) missile system and has the ability to penetrate complex integrated air defense systems.
The award of this contract reflects the growing need for advanced missile systems to ensure the national security of the United States and its allies. In the face of increasing military conflicts and threats, LRASM is becoming an important element in the arsenal of the US Air Force and the US Navy. Lockheed Martin continues to expand its production facilities to meet the demand for these missiles. In 2022, the company opened a new 225 thousand square foot intelligent plant in Orlando, Florida, to increase production.
Mordor Intelligence predicts that the global market for missiles and missile defense systems will grow at an average annual rate of 5% between 2025 and 2030. This opens up significant opportunities for Lockheed Martin, whose Missile and Fire Control division is a recognized developer of high-performance missiles. The company actively cooperates with more than 50 countries around the world.
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