LM Awarded $64 M JAGM Contract For Extended Technology Development
Lockheed Martin (NYSE: LMT) received a $64 million contract from the U.S. Army to extend the Joint Air-to-Ground Missile (JAGM) Technology Development program.
The 27-month extended Technology Development program will include design, test and demonstration phases for the JAGM guidance section. The JAGM guidance section includes the seeker, dome and housing.
Global Intercontinental Ballistic Missile Market 2016-2020
"Lockheed Martin's JAGM guidance section draws upon a legacy of trusted precision-guided weapons on the battlefield today including HELLFIRE, LONGBOW and Javelin," said Frank St. John, vice president of tactical missiles and combat maneuver systems in Lockheed Martin's Missiles and Fire Control business. "Our proposed JAGM weapon system can provide significant performance advantages to help meet warfighter needs and save lives."
Lockheed Martin has already successfully designed, tested and fielded missiles with both JAGM seeker modes; the precision-strike semi-active laser on HELLFIRE ® and the all-weather fire-and-forget millimeter wave on LONGBOW.
Lockheed Martin's JAGM design offers warfighters operational flexibility and combat effectiveness and survivability with a single, low-cost advanced missile.
Source : Lockheed Martin Corporation (NYSE: LMT)