Trump to nominate CEA Chair Miran for Fed governor role
Investing.com -- The U.S. Department of Defense has granted Lockheed Martin Corp (NYSE:LMT)., based in Grand Prairie, Texas, a firm-fixed-price contract valued at approximately $4.94 billion. The contract is for the production of the Precision Strike Missiles Increment One.
The announcement of the award came after bids were invited through the internet, with Lockheed Martin Corp. emerging as the sole recipient. The specifics of work locations and funding will be established with each individual order under the contract.
The Army Contracting Command, located at Redstone Arsenal, Alabama, is overseeing the contracting activity under the identifier W31P4Q-25-D-0010. The contract, which is expected to be completed by March 30, 2030, marks a significant milestone in the defense sector.
This contract signifies a substantial commitment to the development and production of the Precision Strike Missiles Increment One, a key component of the U.S. military’s strategic arsenal. Lockheed Martin Corp. is a leading player in the defense industry and this contract further cements its position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.