DOD inks agreement with Lockheed Martin aimed at accelerating Precision Strike Missile production
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The Defense Department signed an agreement with Lockheed Martin to quadruple Precision Strike Missile production capacity for the Iran conflict.
AI Summary
The Defense Department announced a production framework with Lockheed Martin on Wednesday designed to quadruple manufacturing capacity for the Precision Strike Missile, a surface-to-surface ballistic missile that made its combat debut during Operation Epic Fury against Iran. Under the deal, Lockheed will invest in advanced tooling, facility modernization, and testing equipment to reduce production lead times, complementing a $4.9 billion Army contract awarded last year. The agreement comes as the Pentagon seeks to replenish munitions stockpiles depleted by the ongoing conflict with Iran, which began in February. The Army plans to purchase 152 PrSM units in fiscal 2026 for about $560 million, and the framework also establishes potential for a seven-year multi-year procurement contract if Congress authorizes it, which could reduce overall costs. The Trump administration is expected to request additional PrSM funding in its fiscal 2027 budget request, though that proposal has not yet been submitted.
What's Being Done
The Pentagon established a production framework with Lockheed Martin; the Army plans to purchase 152 PrSM units in fiscal 2026 for about $560 million.
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