Lockheed Martin snags $5 billion US Army missile contract

Lockheed Martin announced Monday that the U.S. Army had awarded it a contract worth nearly $5 billion to produce its next-generation long-range precision strike missile.

The contract is worth up to $4.94 billion and will see Lockheed Martin provide Precision Strike Missiles (PrSM) to the Army, which views the weaponry as the successor to the Army Tactical missile (ATACM).

The missiles are compatible with the High Mobility Artillery Rocket System (HIMARS) and Multiple Launch Rocket System (MLRS)...