U.S. approves $832 million Javelin missile sale to Egypt
The U.S. State Department approved a possible foreign military sale of Javelin anti‑tank missile systems to Egypt worth $832 million. Egypt has requested up to 2,020 missiles and up to 200 launch units, plus training and support equipment. Lockheed Martin and RTX are named as the principal contractors. Congressional approval is still required before the deal can be finalized.
Why it matters
The approval creates a large new order for the Javelin program, boosting production volumes for Lockheed Martin and RTX. Investors should note that the transaction will increase revenue for these defense contractors once Congress authorises the sale.
Key facts
- 1The State Department estimated the total cost of the sale at $832 million. magnoliareporter.com
- 2Egypt requested up to 2,020 FGM‑148F missiles, including 20 fly‑to‑buy missiles. magnoliareporter.com
- 3The request also includes up to 200 Lightweight Command Launch Units (LWCLUs). magnoliareporter.com
- 4Principal contractors are Lockheed Martin and RTX Corporation. magnoliareporter.com
- 5Congress must still approve the sale before it can be executed. defenceweb.co.za
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.