Lockheed Martin announced Monday that the U.S. Army had awarded it a contract worth nearly $5 billion to produce its next-generation long- range precision strike missile. The contract is worth up to $4.94 billion and will see Lockheed Martin provide Precision Strike Missiles (PrSM) to the Army, which views the weaponry as the successor to the Army Tactical missile (ATACM). Though this PrSM contract is for the Army, the U.S. Marine Corps as well as the Australian Army have indicated they intend to acquire th ...

Significance of LMT's Precision Strike Missile Lockheed's PrSM is a long-range missile designed for the U.S. Army and capable of neutralizing targets beyond 499 kilometers. This new surface-to-surface weapon system provides expanded capabilities for attacking, neutralizing, suppressing and destroying targets using missile-delivered indirect fire. PrSM increases the Joint Force Commander's range, lethality, survivability and missile loadout. Such notable features of LMT's aforementioned missile are likely to ...