Lockheed Martin Corp., a leading defense contractor, has been awarded a $59.2 million contract modification for its work on the Precision Strike Missile (PrSM) program.
The contract, managed by the Army Contracting Command at Redstone Arsenal, Alabama, involves continued production and development efforts for the advanced missile system. Work will be conducted at Lockheed Martin’s Grand Prairie, Texas, facility and is expected to be completed by September 30, 2027.
The PrSM is a next-generation, long-range missile system designed to deliver precision strikes in contested environments. It represents a critical component of the U.S. Army’s modernization strategy, providing enhanced range and lethality compared to its predecessors.
The funding supports Lockheed Martin’s continued development and production of the missile, which is intended to replace the aging Army Tactical Missile System (ATACMS).
The Precision Strike Missile is designed to strike fixed and semi-mobile targets at distances beyond 500 kilometers. Its modular open-system architecture allows for future upgrades, including integration with advanced targeting systems and enhanced warhead options. The system is a centerpiece of the Army’s focus on long-range precision fires, a priority identified in the service’s modernization initiatives.
The missile’s development has already demonstrated significant progress, including successful test launches at ranges exceeding initial specifications. These tests have underscored the missile’s capability to deliver precision effects in both land and maritime domains, addressing emerging threats in contested environments.
The PrSM program aligns with the Army’s broader efforts to maintain overmatch against adversaries in key theaters, including the Indo-Pacific and Europe. Lockheed Martin officials have emphasized the missile’s importance to joint and allied operations.