Lockheed Martin Corp. (LMT) said it received a $27.1 million contract from the U.S. Army for the first phase of a three-year development program that will increase crew protection and update the Army's fleet of Multiple Launch Rocket System or MLRS M270A1 mobile rocket launchers.
Under the contract, Lockheed Martin will upgrade, assemble and test seven prototype vehicles. Phase one is expected to be followed by a production contract for the Army's entire fleet of 225 vehicles.
During this initial phase, Lockheed Martin will replace the launcher's cab, which expands interior volume by 40 percent and incorporates new energy-absorbing seats that provides additional protection from mine blasts and improvised explosive devices.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.