Lockheed Martin reveals new secret missile, fast tracks production

"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," Tim Cahill, president of Lockheed Martin Missiles and Fire Control, said in a statement. "We're proud to finally talk about the extraordinary work behind this missile and how we're working with the U.S. government to rapidly scale production."

The first images of the weapon emerged in May and Australia has announced it will buy roughly $521 million worth of JATM missiles. The quantity and unit price were not disclosed.

The framework agreement lays the groundwork for a multiyear procurement contract aimed at strengthening the defense industrial base for the program. Lockheed said it would fund investments needed to boost output under the deal.

WASHINGTON, Sept 17 (Reuters) - Lockheed Martin unveiled on Thursday details of a next-generation air-to-air missile developed to counter threats from China and a new agreement with the Defense Department to boost production as the Pentagon rebuilds munitions stockpiles.

The war on Iran depleted U.S. and allied missile stocks, spurring a push to rapidly acquire less expensive long-range precision-strike weapons.

The missile, known as the AIM-260 Joint Advanced Tactical Missile (JATM), has been developed in secrecy for years as the U.S. military's answer to increasingly capable long-range air threats from China. Lockheed said the weapon offers greater range and effectiveness than existing air-to-air missiles — an advantage against Chinese fighter jets like the J-20.

The AIM-260 will be used on stealth fighters like the F-22 Raptor and F-35.