Lockheed awarded $451 million contract

The U.S. Army awarded Lockheed Martin (NYSE: LMT) a $451 million contract to recapitalize additional M270 systems expanding its domestic fleet of launchers and providing upgrades for global partners.

The award follows an initial agreement issued in 2019, and subsequent contracts calling for recapitalization to support mission readiness through 2050. 

“The modernization effort will add additional capability to the combat-proven launcher and ensure the M270-series launcher remains highly effective, reliable and interoperable with NATO forces for decades to come,” said Jay Price, vice president of Precision Fires for Lockheed Martin.

“The procurement will bring additional precision fires capability to our global partners.”

Recapitalization includes a complete overhaul and upgrades to the systems with brand new engines, improved armoured cabs and the new Common Fire Control System (CFCS) which will provide compatibility with current and future MLRS Family of Munitions (MFOM). Lockheed Martin’s next-generation Extended-Range GMLRS and Precision Strike Missile (PrSM) can only be fired by M270A2 and HIMARS launchers. 

MLRS is a heavy-tracked mobile launcher, transportable via C-17 and C-5 aircraft, that fires Guided MLRS rockets and Army Tactical Missile System missiles. MLRS will also be able to fire the Precision Strike Missile and Extended-Range GMLRS rockets, both currently in development.