Lockheed Martin (NYSE: LMT) received a $413.8 million contract from the U.S. Air Force for Lot 15 production of the Joint Air-to-Surface Standoff Missile (JASSM)-Extended Range (ER) version.

The Lot 15 contract includes 360 JASSM-ER missiles, data, tooling and test equipment. These 360 missiles bring JASSM-ER missiles under contract to 910, and to more than 3,000 missiles for JASSM and JASSM-ER combined.

"We have focused our efforts on enhancing the capabilities of this formidable and highly reliable missile for U.S. and allied warfighters," said Jason Denney, program director of Long Range Strike Systems at Lockheed Martin Missiles and Fire Control. "Lot 15 and future production lots will benefit from the enhancements and the many affordability initiatives we are executing."

Armed with a penetrating blast-fragmentation warhead, both missiles can be used in all weather conditions. They share the same powerful capabilities and stealth characteristics, though JASSM-ER has more than two-and-a-half times the range of JASSM for greater standoff range. These 2,000-pound cruise missiles employ an infrared seeker and enhanced digital anti-jam GPS receiver to dial into specific points on targets.

Effective against high-value, well-fortified, fixed and relocatable targets, JASSM is integrated on the U.S. Air Force's B-1B, B-2, B-52, F-16 and F-15E. The B-1B also carries JASSM-ER. Internationally, JASSM is carried on the F/A-18A/B and the F-18C/D aircraft.

Produced at the company's manufacturing facility in Troy, Alabama, more than 2,150 JASSMs have been delivered.

About Lockheed Martin

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 97,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.