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Lockheed Martin Wins $71M Long Range Anti-Ship Missile Contract

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Lockheed Martin (NYSE: LMT) has received a $71 million Long Range Anti-Ship Missile (LRASM) modification contract from the U.S. Navy to conduct air- and surface-launched flight tests and other risk reduction activities.   

Under this contract, an additional air-launched LRASM flight test will be conducted from a B-1B in 2013. There are already two air-launched flight tests scheduled for this year as part of the Phase 2 LRASM contract awarded in 2010.

The contract also includes two surface-launched LRASM flight tests scheduled for 2014. Risk reduction efforts, such as electromagnetic compatibility testing of the missile and follow-on captive carry sensor suite missions, are also included under the contract.

LRASM is an autonomous, precision-guided anti-ship standoff missile based on the successful JASSM-ER, and is designed to meet the needs of U.S. Navy and Air Force warfighters. LRASM is in development with the Defense Advanced Research Projects Agency and the Office of Naval Research.

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