US to ramp up Patriot missile production with $58.6 billion Lockheed deal as wars stretch arsenals

The US Army awarded Lockheed Martin a contract worth up to $58.6 billion to ramp up Patriot interceptor missile production through 2032.
The contract converts a one-year $4.7 billion deal into a seven-year framework covering fiscal years 2026 to 2032.
Production will focus on Patriot Advanced Capability-3 Missile Segment Enhancement (PAC-3 MSE) interceptors, a key component of US air defense.
The move aims to replenish weapons stockpiles depleted by wars in Iran and Ukraine.
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