From 600 to 2,000 per year: US strikes $58.8 billion deal with Lockheed to triple Patriot missile production
The US Pentagon signed a deal worth up to $58.6 billion with Lockheed Martin to triple production of Patriot interceptor missiles over seven years.
Patriot Advanced Capability-3 Missile Segment Enhancement (PAC-3 MSE) production will increase from 600 to 2,000 missiles per year by 2030.
The deal extends a $4.7 billion contract and will boost jobs at Lockheed's Camden, Arkansas, plant by 50% to about 1,850 employees.
Lockheed plans to invest $8 billion to $9 billion through 2030 to modernize more than 20 US facilities, including new munitions centers in Alabama and Arkansas.
A similar deal was struck with Raytheon's parent company RTX to boost production of Tomahawk missiles.
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