The Pentagon committed more than $135 billion on Wednesday to accelerate Patriot interceptor and nuclear-submarine production as President Donald Trump presses defense contractors to expand factories and prioritize output over shareholder payouts.
Lockheed Expands Patriot Missile Production Capacity The Army converted an April agreement with Lockheed Martin Corp (NYSE:LMT) into a seven-year contract worth up to $58.6 billion for PAC-3 Missile Segment Enhancement interceptors.
The plan runs through fiscal 2032 and supports Lockheed’s goal of lifting annual output to 2,000 missiles and tripling capacity by 2030.
The deal follows Trump’s pressure on contractors to quadruple production of critical weapons.
Reuters reported that the administration wants companies to reinvest in plants rather than emphasize dividends and buybacks.
