An investment has been made to increase the production of Joint Air-to-Surface Standoff (pictured) and Long-Range Anti-Ship Missiles. Source: Lockheed Martin

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.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

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.