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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.