Lockheed Martin Details New AIM-260 Missile, Signs Agreement to Ramp Up Production

Lockheed Martin (NYSE: LMT) announced on Thursday new details about its long-secret, next-generation air-to-air missile and signed a framework agreement with the U.S. Department of Defense to boost its production capacity. The weapon, known as the AIM-260 Joint Advanced Tactical Missile (JATM), is designed to give U.S. stealth fighters a decisive advantage against advanced adversaries.

A Response to New Threats

The JATM has been developed for years as a direct response to increasingly capable long-range aerial threats, particularly from China. Lockheed Martin stated the missile offers greater range and effectiveness than existing U.S. air-to-air weapons, providing a counter to advanced Chinese fighter jets like the J-20. The AIM-260 is slated for deployment on premier U.S. stealth aircraft, including the F-22 Raptor and F-35.

"JATM is one of our nation’s most important air dominance capabilities, but because of the classified nature of the program, it’s also a story we haven’t been able to tell," said Tim Cahill, president of Lockheed Martin Missiles and Fire Control, in a statement. "We’re proud to finally talk about the extraordinary work behind this missile."

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Ramping Up Production

The new agreement with the Pentagon establishes the groundwork for a future multiyear procurement contract. This move is aimed at strengthening the defense industrial base for the program as the U.S. military works to rebuild its munitions stockpiles, a priority highlighted by recent global conflicts. Under the deal, Lockheed Martin said it would fund the necessary investments to increase the missile's production output.

International interest in the new weapon is already materializing. Australia has announced its intent to purchase JATM missiles in a deal valued at approximately $521 million, according to the source. The specific quantity of missiles and the unit price were not disclosed.