The U.S. Air Force has awarded Lockheed Martin [LMT] nearly $1.2 billion in contracts for the AGM-158B Joint Air-to-Surface Standoff Missile (JASSM) and the AGM-158C Long-Range Anti-Ship Missile.
Lockheed Martin on May 18 received a more than $750 million contract for Lot 21 JASSM for the B-2 stealth bomber and more than $443 million for Lot 7 of LRASM.
In Troy, Ala., Lockheed Martin has an older 125,000 square foot factory and a new 225,000 square foot one to conduct final assembly of the JASSM family of missiles.
The Air Force has said that its maximum JASSM production is 550 missiles per year, but there is thought being given to increasing that rate to 800 or more per year. Last year, Lockheed Martin began discussing current and future DoD needs for JASSM with the supplier base, said Brian Hastings, Lockheed Martin’s JASSM strategy and requirements international business development lead.