The Economic Times

Lockheed Martin bags $1.2 billion US Army deal for next-gen long-range missile

Lockheed Martin has secured a US Army contract worth up to $1.2 billion to produce the Increment 2 variant of its Precision Strike Missile, following a successful test against moving maritime targets. The award comes as the defence contractor expands production capacity to 550 missiles annually amid rising demand for long-range strike weapons.