Archive · 30 Jul 2026
US Awards $58.6B Lockheed Contract to Boost Patriot Missiles
The U.S. Army gave Lockheed Martin a big contract worth up to $58.6 billion to make more Patriot missiles, which help protect planes and missiles from danger.
The deal turns a one‑year contract into a seven‑year plan that will run from 2026 to 2032.
Lockheed will try to triple how many missiles it can make by 2030 and will hire more workers at its Arkansas factory.
The company will also spend $8–9 billion to upgrade many U.S. factories.
This move is part of a larger effort to refill the U.S. missile supply that has been used a lot in wars in Iran and Ukraine.
US Army awarded Lockheed Martin a $58.6 billion contract to produce Patriot PAC‑3 MSE interceptors through 2032.
The contract converts a $4.7 billion one‑year deal into a seven‑year framework covering FY 2026–2032.
Lockheed plans to triple PAC‑3 MSE production capacity by 2030 and expand its Camden, Arkansas workforce by 50% to about 1,850 employees.
Lockheed will invest $8–9 billion through 2030 to modernize more than 20 U.S. facilities, including new munitions centers in Alabama and Arkansas.
The agreement follows similar multiyear deals with RTX to boost Tomahawk cruise missile production, part of the Pentagon’s strategy to rebuild depleted missile stockpiles.
- Who
- US Army and Lockheed Martin
- What
- Awarded a $58.6 billion contract to ramp up Patriot PAC‑3 MSE missile production
- When
- March 2024
- Where
- United States, with production at Lockheed’s Camden, Arkansas plant and other U.S. facilities
- Why
- To rebuild depleted missile stockpiles amid the Iran and Ukraine conflicts
- Contract value
- $58.6 billion
- Contract duration
- FY 2026–2032 (7 years)
- Production target
- Triple PAC‑3 MSE output by 2030
- Workforce increase
- 50% at Camden, Arkansas (≈1,850 employees)
- Investment in facilities
- $8–9 billion through 2030
