This is a red 58 mm Victorinox Bijou SD with inscription. A Bijou is basically a Classic without a keyring.
The “ARMY TACMS” refers to the Army Tactical Missile System, which is a long range guided surface-to-surface missile that is fired from a multiple rocket launcher like the M270 MLRS and HIMARS. The missiles are manufactured by Lockheed Martin.
The missiles were first used in action during the Gulf War in Operation Desert Storm (1991). I’m not sure but I think the “Combat Proven” inscription suggests this knife was made (shortly) after Operation Desert Storm to commemorate the first in combat use of the TACMS. The fact that Victorinox stopped manufacturing the Bijou model in that same period supports this assumption.
On the back side of the knife you’ll find the usual Victorinox shield.