Lockheed Martin awarded Navy hypersonic missile contract worth over $1 billion

Lockheed Martin announced Friday that it will receive a contract that's potentially worth more than $2 billion to integrate a hypersonic missile system onto certain U.S. Navy destroyers.

The deal, which is initially worth $1.1 billion, involves the integration of the Conventional Prompt Strike (CPS) hypersonic missile system onto the Navy's Zumwalt-class guided missile destroyers. If all contract options are exercised, that figure would rise to more than $2.2 billion.

"Lockheed Martin continues to advance hypersonic strike capability for the United States through this new contract," Steve Layne, Lockheed Martin's vice...