Pentagon boosts Patriot, THAAD interceptor output amid stockpile strain
Summary
The U.S. Department of Defense made new deals with Lockheed Martin and Northrop Grumman to increase production of missile defense systems, specifically the Patriot PAC-3 and THAAD interceptors. This move aims to address supply shortages caused by ongoing conflicts and military support to Ukraine.Key Facts
- The Pentagon signed agreements to boost production of Patriot PAC-3 and THAAD missile interceptors.
- Patriot production will triple, while THAAD production will quadruple under the new deal.
- Lockheed Martin received a $58 billion contract to produce Patriot interceptors over seven years.
- Northrop Grumman’s portion of the deal is worth over $3 billion.
- Northrop Grumman has increased production capacity by nearly three times at one facility and by 25% at another.
- The increased production responds to pressure from conflicts involving the U.S., including military aid to Ukraine.
- Ukraine is running low on Patriot interceptors, which are its only ballistic missile defense weapon.
- Stocks of both companies rose after the deal was announced.
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