Lockheed Martin Signs Framework Agreement With US Department Of War To Accelerate Production And Delivery Of AIM-260, Joint Advanced Tactical Missile

Lockheed Martin (NYSE:LMT) signed a framework agreement with the U.S. Department of War to rapidly accelerate the production and delivery of the AIM-260, Joint Advanced Tactical Missile (JATM).

WHY IT MATTERS

JATM is the most sophisticated air dominance missile, capable of deterring and defeating current and projected enemy air threats. This state-of-the-art weapon has increased range and effectiveness over existing air-to-air weapons and provides an asymmetric advantage to the joint force. JATM is compatible with a variety of Air Force and Navy aircraft including the F-22 Raptor and F-35 Lightning II, making it a highly versatile combat system.

ADDITIONAL CONTEXT

• Internal Investment: JATM is produced by Lockheed Martin in partnership with the U.S. Air Force and U.S. Navy. Lockheed Martin will support necessary investments to drive the production increase under this agreement. 
• Multiyear Procurement: This agreement forms the foundational agreement for a multiyear procurement contract, pending Congressional approval, that provides long-term demand to strengthen and expand the defense industrial base for the program. 
• Global Deterrence:  Australia recently announced a nearly $736 million investment to equip the Royal Australian Air Force with JATM. This agreement strengthens Australia's air dominance, enhances interoperability, and provides a credible deterrent that supports the security of the United States and its allies.
• Acquisition Transformation: This agreement is another direct outcome of the Department of War's Acquisition Transformation Strategy, one of the most significant reforms to U.S. warfighting acquisition in decades. It reflects years of collaboration to modernize acquisition and deliver critical capability at the speed and scale required by today's security environment.