Is Lockheed Martin Expanding Its Long-Range Missile Capabilities?

Lockheed Martin LMT 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 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 WatchlistOther 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: 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 LMTShares of LMT have risen 9% in the past year compared with the industry’s 0.2% growth.Image Source: Zacks Investment ResearchThe 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 ResearchThe Zacks Consensus Estimate for LMT’s 2026 and 2027 earnings has moved south over the past 60 days.Image Source: Zacks Investment ResearchLMT stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks