February 5, 2010 (FinancialWire) — Lockheed Martin (NYSE: LMT) has received a U.S. Air Force contract valued at $243.5 million for an eighth production lot of the JASSM cruise missile. The company said the award brings the total contracted quantities of the cruise missile to over 1,200.

The Lot 8 contract is for 158 JASSM missiles, along with fuze reliability, parts obsolescence efforts, test instrumentation kits, system reliability and flight test support.

JASSM is a 2,000-pound class weapon with a penetrator/blast fragmentation warhead. It has eight production lots under contract toward a total objective of 4,900 JASSM and JASSM-ER (Extended Range) missiles. Lockheed Martin also produces the baseline JASSM for foreign military sale customers.

The missile has been demonstrated on the B-1, B-2, B-52 and F-16 aircraft. LMT said that future platforms include the F-15E, F/A-18 and F-35.

Maryland-based Lockheed Martin employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

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