Australia and the US have signed a memorandum of understanding for the production, sustainment, and follow-on development of the Precision Strike Missile (PrSM).
The cooperative program will provide the Australian Armed Forces with access to the latest tactical ballistic missile available to the US military.
It also opens the door for Australian industry to participate in the PrSM supply chain, including for the production of components and sub-components.
Additionally, there is a future option for the missile’s manufacture and maintenance in Australia, for which negotiations will commence later this year.
“Australia’s capability and technology cooperation with the United States is a critical part of our Alliance,” Australia’s Deputy Prime Minister Richard Marles said.
“The Albanese Government’s investment in the Precision Strike Missile will expand and accelerate land-based long-range strike capabilities.”
Australian Investment in PrSM Program
The Australian government is contributing 310 million Australian dollars ($202 million) over 10 years to become a full cooperative partner in the program.
An additional investment of 150 million Australian dollars ($98 million) will be made over the next five years for the procurement of initial quantities to establish the first Long Range Fires Regiment.
“This demonstrates our commitment to deliver on priorities outlined in the 2024 National Defence Strategy, to accelerate acquisition of long-range land and maritime strike capabilities and adopt a Strategy of Denial,” Australian Minister for Defence Industry Pat Conroy explained.
Precision Strike Missile
The next-generation PrSM missile is a replacement for the aging Army Tactical Missile System with a sleeker design and longer range of 500 kilometers (310 miles).
The PrSM can be launched from the M270A2 Multiple Launch Rocket System and the M142 High Mobility Artillery Rocket System.
The first batch was delivered to the US military in late 2024, with full-rate production expected in 2025.
Meanwhile, the PrSM 2 is under development and is expected to achieve initial operational capability in 2028.
It will feature a multi-mode seeker for maritime targeting.
