The Lockheed Precision Strike Missile contract has a ceiling of $1.21 billion and covers early operational capability for the Increment 2 version of the weapon. Lockheed Martin (NYSE: LMT) received the U.S. Army award.
The indefinite-delivery, indefinite-quantity contract combines cost-plus-fixed-fee and firm-fixed-price elements. One bid was solicited and one was received, according to the government’s announcement.
Lockheed Precision Strike Missile Contract Supports Increment 2 Deployment
Work locations and funding will be determined as individual orders are issued, with the overall contract period expected to run through September 13, 2031. Army Contracting Command is responsible for the award and will oversee subsequent ordering activity.
The agreement appears in the U.S. government’s official daily contract announcements. An IDIQ ceiling represents the maximum potential ordering capacity and does not mean the entire $1.21 billion was funded or recognized as revenue at award.
The Lockheed Precision Strike Missile contract strengthens the company’s long-range precision fires backlog and supports Army modernization. Its financial contribution will depend on future orders, appropriations, production performance and the pace at which Increment 2 reaches operational units.
