Lockheed Martin gets first batch of Patriot interceptor parts from General Motors

GM's shares rose 3.50% after it began supplying missile components to Lockheed Martin, adding a new revenue stream. GM delivered its first batch in August, with CEO Mary Barra expecting $700M in defense revenue this year. Lockheed shares fell 2.05% as it faces production challenges.

Lockheed Martin secured a $1.2B contract to produce PrSM Increment 2 missiles for the U.S. Army, with deliveries due by 2031. The deal includes options for additional orders. The missile features a new anti-ship capability, but details on its guidance system and range are undisclosed. The Army plans further versions with increased range and payload.

The US approved a $24.3B sale of 48 F-35 fighter jets and related equipment to Saudi Arabia, involving Lockheed Martin and Pratt & Whitney. The State Department claims this won't alter the regional military balance.

The US State Department approved a potential $24.3 billion sale of Lockheed Martin's F-35 fighter jets to Saudi Arabia, as announced in a notice on Thursday. The deal involves advanced military aircraft and is subject to further congressional review.

Lockheed Martin (LMT) is expanding its drone defense and missile production using AI-powered strategies. The company has developed systems like GRIZZLY, which repurposes Hellfire missiles, and a vertical-takeoff unmanned aircraft with high-power microwave systems. Lockheed Martin has signed long-term agreements with the DoD for PAC-3, THAAD, PrSM, and JATM, aiming to triple PAC-3 and quadruple THAAD production. The company plans $8B-$9B in capital investment through 2030 to support increased pro

Lockheed Martin received the first batch of Patriot interceptor parts from General Motors, marking a 22-day turnaround. The companies aim to enhance defense production, with Lockheed investing $8B-$9B to expand missile and munitions capacity, including a 50% increase in production space.