Top Defense Companies Compete to Build Next-Gen Precision Strike Missile for US Army.

The US Army has selected Lockheed Martin and a Raytheon Technologies-Northrop Grumman team to develop a new missile form factor and propulsion system for the service’s Precision Strike Missile (PrSM) Increment 4, which has been renamed the Long Range Maneuverable Fires (LRMF) missile. The new missile is expected to have a range of at least 1,000 km, potentially double the range of the current version. The Army has allocated $33.3 million to Lockheed Martin and almost $100 million to the Raytheon team for the development and demonstration of the new missile.