DALLAS, June 26, 2012 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) received a $27.1 million contract from the U.S. Army for the first phase of a three-year development program that will increase crew protection and update the Army's fleet of Multiple Launch Rocket System (MLRS) M270A1 mobile rocket launchers.

Under the contract, Lockheed Martin will upgrade, assemble and test seven prototype vehicles. Phase one is expected to be followed by a production contract for the Army's entire fleet of 225 vehicles.

During this initial phase, Lockheed Martin will replace the launcher's cab, which expands interior volume by 40 percent and incorporates new energy-absorbing seats that provides additional protection from mine blasts and improvised explosive devices. The company will also move the fire control panel to provide commonality with the High Mobility Artillery Rocket System (HIMARS) launcher and enhance survivability through extensive armoring in the new cab.

"These improvements will ensure the M270-series launcher remains relevant, effective and reliable while protecting crews from new and evolving threats well into the middle of the 21st century," said Scott Arnold, vice president of precision fires in Lockheed Martin's Missiles and Fire Control business.

Lockheed Martin is the prime contractor for M270A1 research and development, and is partnered with BAE Systems Land and Armaments LP. Lockheed Martin and BAE Systems bring together more than 30 years of experience in the design, development, production and sustainment of the Bradley Fighting Vehicle and the M270A1 launcher. The two companies, joined by a teaming arrangement, provide an industry-best collaborative effort on the Improved Armored Cab program.

Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs about 123,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's net sales for 2011 were $46.5 billion.

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SOURCE Lockheed Martin