07:56 AM EDT, 03/25/2026 (MT Newswires) -- Lockheed Martin ( LMT ) said it has finalized an agreement with the Pentagon to speed up the production of precision strike missiles, which builds on a previous $4.94 billion contract from the US Army last year, quadrupling the missile production.

The agreement includes a provision to negotiate a multiyear contract for up to seven years, contingent on future congressional authorization, the company said.