US clears way for $24.3 billion military aircraft sale to Saudi Arabia

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 US State Department approved a potential $24.3 billion sale of 48 Lockheed Martin F-35 fighter jets to Saudi Arabia, including engines and support equipment. This marks a policy shift and could impact regional military balance, with Congress likely to scrutinize the deal.

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.

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.

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.