Lockheed Martin received $44.3m for earlier production of Precision Strike Missile with a launch range of up to 500km to replace ATACMS ballistic missiles

The US Department of Defence has allocated funds to Lockheed Martin for the preparation of early production of Precision Strike Missile (PrSM). The amount of the contract was $44.3 million.

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The US Army wants PrSM for the M142 HIMARS high-mobility artillery rocket systems and M270 MLRS multiple launch rocket systems. The new munition will be a replacement for the ATAMCS tactical ballistic missile with a launch range of up to 300 kilometres.

The first version of the PrSM (Increment 1) will allow HIMARS and MLRS to engage targets up to 500 kilometres away. In the future, Lockheed Martin will increase the maximum range to 1,000 kilometres. The PrSM will be thinner than the ATACMS, so the HIMARS launcher will accommodate two missiles at once, while the MLRS will be able to launch four at once.

In the spring of 2023, the U.S. Army requested $384 million in the draft budget for fiscal year 2024 to purchase 110 Increment 1 version PrSM missiles. At the same time, Lockheed Martin wants $273 million to continue development of the project.

Source: Pentagon