Lockheed Martin has won an $86.5 million contract from the US Navy and Air Force for Long Range Anti-Ship Missile (LRASM) production.
The contract marks the first production award for the air-launched variant of LRASM, and includes 23 missiles and engineering support, the company announced Wednesday.
Low-rate initial production Lot 1 is the first of several expected annual production lots that will deliver next-generation anti-ship missiles to the U.S. Navy and U.S. Air Force.
"This first production lot of LRASM brings a new level of capability to both the US Air Force and the Navy," said Mike Fleming, LRASM director at Lockheed Martin Missiles and Fire Control.
"LRASM enables our warfighters to prosecute even the most advanced enemy ships." Fleming added.
LRASM is designed to detect and destroy specific targets within groups of ships by employing advanced technologies that reduce dependence on intelligence, surveillance and reconnaissance platforms, network links and GPS navigation in electronic warfare environments.
LRASM will a significant role in ensuring military access to operate in open ocean/blue waters, owing to its enhanced ability to discriminate and conduct tactical engagements from extended ranges.
LRASM is a precision-guided, anti-ship standoff missile based on the successful Joint Air-to-Surface Standoff Missile - Extended Range (JASSM-ER).
LRSM is designed to meet the needs of US Navy and U.S. Air Force Warfighters in contested environments.
The air-launched variant provides an early operational capability for the US Navy's offensive anti-surface warfare Increment I requirement to be integrated onboard the US Air Force's B-1B in 2018 and on the US Navy's F/A-18E/F Super Hornet in 2019.