ORLANDO, Fla., Aug. 23, 2017 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) received a $900 million contract from the U.S. Air Force to develop and mature technologies for the Long Range Stand Off (LRSO) missile program. Terms of the Technical Maturation and Risk Reduction (TMRR) contract were not disclosed.

The TMRR phase of the program is a critical step in advancing technologies, systems and subsystems for the weapon program, leading up to the Engineering, Manufacturing and Development milestone expected in 2022.

"LRSO will provide the next generation strategic deterrent missile for the air-launched portion of the nuclear triad," said David Helsel, LRSO program director at Lockheed Martin Missiles and Fire Control. "Lockheed Martin's proven experience in cruise missile and strategic systems technologies will provide the most reliable, capable, sustainable and affordable program in defense of our nation and our allies."

LRSO is a replacement for the U.S. Air Force's AGM-86 Air Launched Cruise Missile that has been operational since 1986. The LRSO weapon system will be capable of penetrating and surviving advanced integrated air defense systems from significant standoff range to prosecute strategic targets in support of the U.S. Air Force's global attack capability and strategic deterrence core function.

Lockheed Martin's LRSO industry team spans more than 800 people across 11 states: California, Colorado, Florida, Maryland, Michigan, Minnesota, New York, Pennsylvania, Texas, Utah and Washington.

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