US awards Lockheed Martin $58.6bn Patriot missile contract

US awards Lockheed Martin $58.6bn Patriot missile contract The US Army has awarded Lockheed Martin a contract worth up to $58.6bn to expand production of Patriot interceptor missiles, the Reuters news agency reported. The seven-year agreement will run from the 2026 financial year until 2032 as Washington seeks to rebuild weapons stockpiles depleted by its war on Iran and military support for Ukraine. The deal replaces a one-year contract worth $4.7bn that the army issued in April. It establishes a long-term procurement programme for PAC-3 Missile Segment Enhancement interceptors, which target aircraft and ballistic and cruise missiles.