Lockheed, Air Force sign $167 million deal for 48 LRASMs

The Air Force has awarded Lockheed Martin a $167 million contract for 48 Long-Range Anti-Ship Missiles on behalf of the service and the Navy, according to a Defense Department announcement today.

The Air Force is obligating $52 million and the Navy $115 million at the time of the award using the services' respective fiscal year 2019 procurement funding.

Lockheed will build the missiles in Troy, AL, and is expected to finish the contract work, which also includes tooling and test equipment, in April 2023.

DOD's notice didn't indicate how many LRASMs each service is buying as part of the contract, but their latest budget documents show the Air Force planning to purchase 15 missiles and the Navy 33.