DALLAS, July 6, 2017 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) received a $73.8 million contract from the U.S. Army for Phase 2 of the Long Range Precision Fires (LRPF) program.

LRPF is the U.S. Army's program envisioned to provide combatant commanders with next-generation, long-range precision fires with ranges up to 499 kilometers. The missile will be capable of striking time-sensitive and area targets in a variety of conditions.

"Lockheed Martin has invested heavily in leveraging our legacy of unrivaled performance and affordability on the combat-proven Tactical Missile System (TACMS) program to create the next generation long-range precision engagement weapon," said Scott Greene, vice president of Precision Fires for Lockheed Martin Missiles and Fire Control. "We intend to demonstrate to our Army customer that our LRPF solution will be the most cost-effective, precise and reliable munition to meet their future long-range engagement needs."

The LRPF Phase 2 program includes technology maturation and risk reduction for the development of a prototype LRPF missile system. The prototype missile system includes a Launch Pod Missile Container and a fully integrated surface-to-surface guided missile that will be compatible with the Multiple Launch Rocket System MLRS M270A1 and M142 High Mobility Artillery Rocket System HIMARS launchers.

During the 36-month Phase 2 LRPF contract, Lockheed Martin will design, develop and fly multiple prototype missiles in anticipation of the Engineering and Manufacturing Development (EMD) phase of the program. The initial LRPF Phase 1 risk-reduction contract successfully completed in May 2017.

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About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 97,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

SOURCE Lockheed Martin