Monitor future PrSM Increment 2 flight test results and Army procurement decisions for follow-on orders, which could further expand the contract value and Lockheed's production ramp.
Price Chart
Executive Summary
Lockheed Martin received a $1.2B IDIQ contract from the U.S. Army to produce PrSM Increment 2, following a successful second flight test demonstrating moving maritime target engagement. The contract moves the missile from development into production, expanding Lockheed's long-range precision fires backlog.
Key Financial Metrics
Key Facts
- U.S. Army awarded Lockheed Martin an IDIQ contract worth up to $1.2 billion for PrSM Increment 2 production and continued development.
- PrSM Increment 2 completed its second flight test in August 2026, demonstrating moving maritime target engagement.
- The contract covers initial procurement, future orders, follow-on production, and continued development.
- Lockheed Martin is expanding capacity to quadruple PrSM production.
- Additional PrSM Increment 2 flight tests are scheduled for 2027.
Financial Impact
$1.2 billion IDIQ contract for PrSM Increment 2 production and development
Risk Factors
- Flight test failures or delays could slow production ramp or reduce future orders.
- Budgetary pressures or shifts in Army priorities could limit follow-on procurement.
- Technical challenges in scaling production to quadruple output could affect margins.
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302885254 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | GOVT-CONTRACT | $635.08 | awaiting T+20 | — | $604.18 (−4.87%) |
Oct 23, 2026 3d ago | 144 | $604.07 | awaiting T+20 | — | $604.18 (+0.02%) |
Oct 23, 2026 4d ago | GOVT-CONTRACT | — | awaiting T+20 | — | — |
Oct 22, 2026 4d ago | 8-K | $589.91 | awaiting T+20 | — | $604.18 (+2.42%) |
Oct 22, 2026 5d ago | GOVT-CONTRACT | $604.18 | awaiting T+20 | — | $604.18 (−0.00%) |
Oct 15, 2026 11d ago | Press Release | $532.64 | awaiting T+20 | — | $604.18 (+13.43%) |
Oct 14, 2026 13d ago | GOVT-CONTRACT | $532.64 | awaiting T+20 | — | $604.18 (+13.43%) |
Oct 13, 2026 14d ago | GOVT-CONTRACT | $522.23 | awaiting T+20 | — | $604.18 (+15.69%) |
Sep 21, 2026 5w ago | Press Release | $522.34 $548.71 | ▲ +5.05% | ▲ +5.61% | $604.18 (+15.67%) |
Sep 10, 2026 6w ago | GOVT-CONTRACT | $524.19 $509.59 | ▼ −2.79% | ▼ −4.65% | $604.18 (+15.26%) |
US Market Status
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