Latest news with #ArmyTacticalMissile
Yahoo
31-03-2025
- Business
- Yahoo
Lockheed Martin clinches $4.94 billion US Army missile contract
(Reuters) - Lockheed Martin on Monday said the U.S. Army had awarded it a contract worth up to $4.94 billion to produce Precision Strike Missiles (PrSM). Defense companies are seeing a surge in weaponry demand, driven by conflicts across the globe. The Pentagon has been prioritizing purchases of the PrSM, which is to replace the Army Tactical Missile (ATACM). PrSM is Lockheed's next-generation long-range precision strike missile, capable of neutralizing targets beyond 400 kilometers. Shares of the defense giant rose more than 1% in afternoon trade. The news of the company securing the army's indefinite delivery/indefinite quantity contract comes after U.S. President Donald Trump earlier this month awarded the U.S. Air Force's fighter jet contract worth more than $20 billion to Boeing replacing Lockheed's F-22 Raptor. Sign in to access your portfolio
Reuters
31-03-2025
- Business
- Reuters
Lockheed Martin clinches $4.94 billion US Army missile contract
Weapons are pictured at a Lockheed Martin weapons factory, in Troy, Alabama, U.S. May 3, 2022. REUTERS/Jonathan Ernst/File Photo Purchase Licensing Rights, opens new tab March 31 (Reuters) - Lockheed Martin (LMT.N), opens new tab on Monday said the U.S. Army had awarded it a contract worth up to $4.94 billion to produce Precision Strike Missiles (PrSM). Defense companies are seeing a surge in weaponry demand, driven by conflicts across the globe. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. The Pentagon has been prioritizing purchases of the PrSM, which is to replace the Army Tactical Missile (ATACM). PrSM is Lockheed's next-generation long-range precision strike missile, capable of neutralizing targets beyond 400 kilometers. Shares of the defense giant rose more than 1% in afternoon trade. The news of the company securing the army's indefinite delivery/indefinite quantity contract comes after U.S. President Donald Trump earlier this month awarded the U.S. Air Force's fighter jet contract worth more than $20 billion to Boeing (BA.N), opens new tab replacing Lockheed's F-22 Raptor. Reporting by Anshuman Tripathy in Bengaluru; Editing by Maju Samuel Our Standards: The Thomson Reuters Trust Principles., opens new tab
