The Pentagon and Lockheed Martin announced Wednesday the defense contractor will quadruple its annual production of the Precision Strike Missile following its combat debut during Operation Epic Fury, the joint U.S. and Israeli military campaign aimed at severely degrading Iran’s military infrastructure.
The company’s production target for the Precision Strike Missile will increase from 400 to 1,600 units per year.
“Lockheed Martin is mobilizing the full might of its industrial and technological power to build the Arsenal of Freedom by dramatically accelerating production of this critical munition, leveraging next-generation technologies to build faster and better,” the company said in a statement.
Under the agreement, Lockheed Martin will make “targeted investments” in advanced tooling, facilities modernization and critical testing equipment to slash production lead times, Pentagon officials said.
“By empowering industry to invest in the factory floor, we are building a decisive and enduring advantage for our warfighters to outpace any potential adversary,” said Michael Duffey, under secretary of defense for acquisition and sustainment.
The agreement also sets up an opportunity to negotiate a multiyear contract for up to seven years. That allows subcontractors to invest in scale and automation, knowing the demand won’t be eliminated in the next budget cycle.
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The Precision Strike Missile eventually will replace the Army Tactical Missile System. The new system was used to strike Iranian air defense systems and command and control networks.
