LM Awarded $73.8M for Phase 2 of the LRPF Program

July 06, 2017

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Lockheed Martin (NYSE: LMT) received a $73.8 million contract from the U.S. Army for Phase 2 of the Long Range Precision Fires (LRPF) program.

LRPF is the U.S. Army's program envisioned to provide combatant commanders with next-generation, long-range precision fires with ranges up to 499 kilometers. The missile will be capable of striking time-sensitive and area targets in a variety of conditions.

"Lockheed Martin has invested heavily in leveraging our legacy of unrivaled performance and affordability on the combat-proven Tactical Missile System (TACMS) program to create the next generation long-range precision engagement weapon," said Scott Greene , vice president of Precision Fires for Lockheed Martin Missiles and Fire Control. "We intend to demonstrate to our Army customer that our LRPF solution will be the most cost-effective, precise and reliable munition to meet their future long-range engagement needs."

The LRPF Phase 2 program includes technology maturation and risk reduction for the development of a prototype LRPF missile system. The prototype missile system includes a Launch Pod Missile Container and a fully integrated surface-to-surface guided missile that will be compatible with the Multiple Launch Rocket System MLRS M270A1 and M142 High Mobility Artillery Rocket System HIMARS launchers.

During the 36-month Phase 2 LRPF contract, Lockheed Martin will design, develop and fly multiple prototype missiles in anticipation of the Engineering and Manufacturing Development (EMD) phase of the program. The initial LRPF Phase 1 risk-reduction contract successfully completed in May 2017 .

Source : Lockheed Martin Corporation (NYSE: LMT)