US clears way for $24.3 billion fighter jet sale to Saudi Arabia

The U.S. approved a potential $24.3B sale of 48 Lockheed Martin F-35 fighter jets to Saudi Arabia, including engines and support equipment. The sale aims to bolster Saudi Arabia's defense capabilities and interoperability with U.S. forces, but faces objections from Israel. The deal is part of broader defense cooperation and Saudi Arabia's military modernization efforts under Vision 2030.

The US State Department announced a $24.3B deal to sell 48 F-35 fighter jets to Saudi Arabia, subject to Congress approval. Lockheed Martin (LMT), the manufacturer, saw a 0.5% stock slip despite the potential deal. The sale aims to bolster Saudi defense capabilities and aligns with US national security goals, but faces scrutiny over Israel's military edge. LMT stock is up 11% year-to-date.

The U.S. State Department approved a potential $24.3 billion sale of 48 F-35 fighter jets and related equipment to Saudi Arabia, involving Lockheed Martin and Pratt & Whitney. The deal aims to enhance Saudi Arabia's defense capabilities and regional interoperability, supporting U.S. national security objectives.

The US State Department approved a $24.3 billion sale of 48 F-35 fighter jets and related equipment to Saudi Arabia, involving Lockheed Martin and Pratt & Whitney. The sale aims to support US foreign policy and regional stability, according to the department. Congress has 30 days to review the deal. The announcement follows Saudi Arabia's request for US military assistance against Yemen's Houthis, with ongoing diplomatic discussions.

Lockheed Martin received its first shipment of Patriot interceptor parts from General Motors, 22 days after signing a contract. The parts, for the PAC-3 MSE system, are crucial for missile defense. Lockheed is investing $8B-$9B to scale munitions output, including PAC-3 MSE and THAAD. GM Defense's precision-fabrication expertise supports this collaboration.

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.