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Is Lockheed Martin Expanding Its Long-Range Missile Capabilities?
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Key Takeaways
LMT completed a PrSM Increment 4 propulsion test, shifting from booster to ramjet.
Lockheed Martin says ramjet PrSM Increment 4 should exceed 1,000 km and stay HIMARS/M270 compatible.
LMT invested $300M in additive manufacturing and automation to speed PrSM production and deployment.
Lockheed Martin (LMT - Free Report) is strengthening its long-range missile capabilities through new technology, testing milestones and production investments. As demand for advanced missile systems rises, the company is developing longer-range weapons for the U.S. Army and allied nations.
On June 3, 2026, Lockheed Martin, along with L3Harris Technologies (LHX - Free Report) and the U.S. Army, completed a key propulsion test for its Precision Strike Missile (PrSM) Increment 4 program. The missile successfully transitioned from a booster engine to a ramjet engine, validating a critical propulsion system milestone and keeping the program on track for flight testing later this year.
The ramjet-powered PrSM Increment 4 is expected to extend the missile’s range beyond 620 miles (1,000 kilometers) while remaining compatible with existing HIMARS and M270 launchers, enabling easier integration without new launch systems. The missile is also designed for higher speed, maneuverability and improved targeting against moving maritime and relocatable land targets.
To support production, Lockheed Martin and L3Harris have invested more than $300 million in additive manufacturing and automation. Overall, through propulsion advancements, production investments and platform compatibility, Lockheed Martin is strengthening its long-range precision-strike portfolio.
Other Stocks to Keep on the Watchlist
Other aerospace companies that are expanding their missile production are discussed below:
L3Harris is a key supplier of advanced propulsion systems, missile warning technologies and defense electronics used across various missile and tactical weapon programs. The company also supports next-generation strike capabilities through its expertise in rocket motors, propulsion technologies and integrated mission systems, strengthening its position in the growing missile defense market.
RTX Corporation (RTX - Free Report) : It is known for its missile defense systems like the Patriot and SM-6, which are in high demand globally. RTX also provides advanced sensors and interceptors to identify, track and defeat threats as part of a layered missile defense.
The Zacks Rundown for LMT
Shares of LMT have risen 9% in the past year compared with the industry’s 0.2% growth.
Image Source: Zacks Investment Research
The company shares are trading at a discount on a relative basis, with its forward 12-month Price/Earnings being 16.83X compared with its industry’s average of 31.85X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for LMT’s 2026 and 2027 earnings has moved south over the past 60 days.
View the Zacks #1 Rank List
Image: Bigstock
Is Lockheed Martin Expanding Its Long-Range Missile Capabilities?
Key Takeaways
Lockheed Martin (LMT - Free Report) is strengthening its long-range missile capabilities through new technology, testing milestones and production investments. As demand for advanced missile systems rises, the company is developing longer-range weapons for the U.S. Army and allied nations.
On June 3, 2026, Lockheed Martin, along with L3Harris Technologies (LHX - Free Report) and the U.S. Army, completed a key propulsion test for its Precision Strike Missile (PrSM) Increment 4 program. The missile successfully transitioned from a booster engine to a ramjet engine, validating a critical propulsion system milestone and keeping the program on track for flight testing later this year.
The ramjet-powered PrSM Increment 4 is expected to extend the missile’s range beyond 620 miles (1,000 kilometers) while remaining compatible with existing HIMARS and M270 launchers, enabling easier integration without new launch systems. The missile is also designed for higher speed, maneuverability and improved targeting against moving maritime and relocatable land targets.
To support production, Lockheed Martin and L3Harris have invested more than $300 million in additive manufacturing and automation. Overall, through propulsion advancements, production investments and platform compatibility, Lockheed Martin is strengthening its long-range precision-strike portfolio.
Other Stocks to Keep on the Watchlist
Other aerospace companies that are expanding their missile production are discussed below:
L3Harris is a key supplier of advanced propulsion systems, missile warning technologies and defense electronics used across various missile and tactical weapon programs. The company also supports next-generation strike capabilities through its expertise in rocket motors, propulsion technologies and integrated mission systems, strengthening its position in the growing missile defense market.
RTX Corporation (RTX - Free Report) : It is known for its missile defense systems like the Patriot and SM-6, which are in high demand globally. RTX also provides advanced sensors and interceptors to identify, track and defeat threats as part of a layered missile defense.
The Zacks Rundown for LMT
Shares of LMT have risen 9% in the past year compared with the industry’s 0.2% growth.
Image Source: Zacks Investment Research
The company shares are trading at a discount on a relative basis, with its forward 12-month Price/Earnings being 16.83X compared with its industry’s average of 31.85X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for LMT’s 2026 and 2027 earnings has moved south over the past 60 days.
Image Source: Zacks Investment Research
LMT stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.