Lockheed Martin received contract from U.S. Army for achieving initial operational capability with PrSM Increment 2 ballistic missiles. This involves version also called Land Based Anti-Ship Missile (LBASM), meaning it will be capable of destroying russian and Chinese ships.
According to Pentagon announcement, this undefinitized contract value is $1.211 billion. Estimated completion date indicated is September 13, 2031, meaning 5 years for execution.
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Achieving initial operational capability means military receiving first weapons batch already capable of performing combat tasks. Meaning within 5 years U.S. Army already wants capability to employ new ballistic missile version.
In more detail, PrSM Increment 2 differs from already serial PrSM Increment 1 primarily through using multi-mode combined guidance system. Thanks to this it can engage moving targets, specifically ships, enabling countering russian and Chinese fleets at 500 km distance.

In March 2026, Lockheed Martin reported new American ballistic missile version completed first flight. It was noted during test range over 350 km was achieved and new guidance capabilities demonstrated. Known is Increment 2 procurement is planned to begin in 2028, giving 3 years for production and initial military mastery.
Recall PrSM has 500 km range, developed to replace old ATACMS at 300 km in U.S. Army and is already in serial production, volumes of which are gradually increasing. At same time, one launch package for M142 HIMARS fits two new missiles instead of one.

Overall 4 iterations are planned for PrSM, last of which will have 1,000 km range. Increment 5 was also planned, but Lockheed Martin lost contract for project and now U.S. seeks new missile for this role under Affordable High Speed Strike (AHSS) program, which will also launch from HIMARS.
Although PrSM Increment 1 is already in serial production, output volumes are still quite small. As result, during iran war U.S. nearly exhausted its ballistic missile stocks, leading to suspension of this weaponry supply to allies.
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