Based in Orlando, Lockheed Martin Missiles and Fire Control has secured a $130m contract modification to enhance its missile production capabilities.
Lockheed Martin, a player in defence manufacturing, is set to expand its production capacity for the Joint Air-to-Surface Standoff Missile (JASSM) and the Long-Range Anti-Ship Missile (LRASM) through a newly awarded contract modification.
The contract, a modification to the existing FA8682-19-C-0008, was awarded by the US Department of Defense and aims to procure the necessary tooling and test equipment to increase production quantities of these missile systems. The work is scheduled to be completed by December 15, 2027, and will be carried out at Lockheed Martin’s Orlando facility.
Focus on production enhancement
Lockheed Martin’s enhancement of its missile production line is a move to bolster the manufacturing efficiency and output of two missile systems in the US arsenal. The JASSM and the LRASM are components of the US military’s long-range strike capabilities.
The increased production capacity is expected to meet the growing demand for these missile systems. The JASSM is known for its long-range capabilities, which allow it to penetrate air defences, while the LRASM is designed to detect and destroy specific enemy ships in contested environments. Together, they form part of the US defence strategy.
Funding and execution
The financial breakdown of the contract includes fiscal 2022 missile procurement funds amounting to $751,506, fiscal 2024 missile procurement funds of $76.2m, and fiscal 2024 Navy weapons procurement funds totalling $53m. These funds have been allocated and obligated at the time of the award.
The contracting activity is managed by the Air Force Life Cycle Management Center, located at Eglin Air Force Base in Florida. This centre oversees the lifecycle management of these missile systems.
This investment in production tooling and testing equipment will allow Lockheed Martin to continue producing missile technology, supporting national security and the broader defence industry.
In Lockheed Martin’s Q2 2024 financial report, the company saw a 9% increase in net sales, reaching $18.1bn, driven by strong performance in Aeronautics and missiles.
