Noun
(military) Abbreviation of low rate initial production.
(Canada, taxation) Abbreviation of low rate income pool.
Source: en.wiktionary.orgBeginning in 2016 with low rate initial production (LRIP) lot 7, the program will introduce a Gen 3 helmet that features an improved night vision camera, new liquid crystal displays, automated alignment and other software enhancements. Source: Internet
As the winner of what could very well be tens of billions of dollars in orders spread out of decades, Oshkosh Defense will start low-rate initial production (LRIP) of 17,000 vehicles in 2016. Source: Internet
Under the terms of this agreement, the USAF has cleared Boeing to begin low-rate initial production (LRIP) for the C-130 AMP. Source: Internet
Later that year, four aircraft were cut from the fifth "Low Rate Initial Production (LRIP)" order because of cost overruns. Source: Internet