Lockheed Martin said on Monday it had secured a contract worth up to $1.2 billion from the US Army to produce the Increment 2 variant of the Precision Strike Missile (PrSM).

Lockheed Martin said on Monday it had secured a contract worth up to $1.2 billion from the US Army to produce the Increment 2 variant of the Precision Strike Missile (PrSM).
New PrSM demonstrates moving target engagement expanding the U.S. Army's mission set DALLAS, Sept. 21, 2026 /PRNewswire/ -- The U.S. Army has awarded Lockheed Martin (NYSE:LMT) an indefinite delivery, indefinite quantity (IDIQ) contract worth up to $1.2 billion to produce Increment 2 of the Precision Strike Missile (PrSM), further strengthening the nation's Arsenal of Freedom after a second flight test demonstrated the missile's ability to engage moving maritime targets.
LMT is positioned to benefit from long-term ballistic missile modernization as Trident II upgrades support sustained strategic defense demand.
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