Lockheed Wins $5.5 Bln Joint Common Missile Program

Posted on: May. 6th, 2004 || Source: globalsecurity.org | E-mail Article | Print Article

May 5 (Bloomberg) -- Lockheed Martin Corp. the largest U.S. defense contractor, won an order to develop and build a new common missile for the Army, Navy and Marine Corps, a program the company estimates could be worth as much as $5.5 billion over 20 years.



Lockheed beat Boeing Co. and Raytheon Co. in the competition initially worth as much as $1.6 billion to develop the Joint Common Missile. The order also covers the first two production batches, or as many as 2,700 of 55,000 missiles, the Army said in a statement.

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