Lockheed Martin [LMT] has received a $562 million deal to provide Army Tactical Missile System (ATACMS) missiles to the Army as well as Bahrain, Poland and Romania, the Pentagon said Monday.
The hybrid cost-plus-fixed-fee and fixed-price-incentive contract covers both new ATACMS as well as upgrading a selection of the existing weapons to the latest configuration under a service life extension program.
“The new-build ATACMS rounds under this contract will include sensor technology that provides the recently qualified Height-of-Burst capability,” Gaylia Campbell, Lockheed Martin’s vice president of precision fires & combat maneuver systems, said in a statement. “This new feature will allow soldiers to address area targets at depth on the battlefield.”
Lockheed Martin officials said to meet the increased demand for ATACMS the company is expanding its precision fires manufacturing facility in Camden, Arkansas, to include capacity to produce ATACMS.
Work on the ATACMS deal is expected to be completed in June 2022, according to the Pentagon.