Lockheed Martin Corporation LMT recently secured a contract valued at $3.23 billion for the procurement of Joint Air-to-Surface Standoff Missiles (“JASSM”) and Long-Range Anti-Ship Missiles (“LRASM”). The work related to this deal will be carried out in Orlando, FL, and is projected to be completed by July 31, 2032.
The award has been provided by the U.S. Air Force Life Cycle Management Center, Eglin Air Force Base, FL. The contract will serve the governments of Japan, the Netherlands, Finland and Poland.
With countries worldwide enhancing their defense capabilities, spending on advanced military arms and ammunition has been rapidly increasing. This also includes growing investments in missiles and missile defense systems, which are crucial for warfare missions. Lockheed Martin, as a prominent manufacturer of missiles and missile defense systems, thus continues to witness a steady flow of orders from the Pentagon and U.S. allies. The latest contract win is an example of that.
Notably, Lockheed Martin’s first cruise missile, JASSM, provides continued significant long-range, precision engagement capabilities for air-to-ground missions. The combat-proven and mission-effective weapon system is designed to destroy high-value, well-defended, fixed and relocatable targets from significant standoff range, keeping aircrews well out of danger from hostile air defense systems without compromising lethality or reach.
On the other hand, LRASM is a precision-guided intelligent anti-ship missile designed to prevent a variety of surface threats at very long ranges. It can navigate semi-autonomously to a target and deliver a precise payload from a safe standoff range.
Such notable features of the aforementioned missiles of Lockheed Martin are likely to have been boosting their demand, which is further evident from the latest contract win.
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