Lockheed Martin and Rafael Advanced Defense Systems have signed a memorandum of understating to study requirements for Rafael's Smart, Precise Impact and Cost-Effective missile guidance systems, the companies announced on Monday.

"SPICE is a leading air-to-surface weapon system offering U.S. and international air forces operating Lockheed Martin's platforms, as well as strategic bomber aircraft, an important complement to their existing operational capabilities," executive vice president and head of Rafael's air & C4ISR Division Yuval Miller said in a press release.

"SPICE's unique features greatly enhance the U.S. ability to operate in contested environments," Miller said.

SPICE is a series of stand-off air-to-surface missiles designed for precision strikes where GPS has been jammed. It has seen extensive service with the Israeli Air Force and other nations.

The system uses electro-optical and other targeting systems to guide toward its targets. It comes in the 1000-pound and 2000-pound weight class, giving it sufficient explosive power to hit hardened targets, the companies say.

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Airbus strikes deals in China, India amid Brexit concerns
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