Defense and Homeland Security Sector Ideas

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>>> Lockheed Plans to Double Production of Antitank Missiles Used in Ukraine


Barron's

By Brian Swint

May 9, 2022


https://www.barrons.com/articles/lockheed-double-production-antitank-missiles-ukraine-russia-51652093151?siteid=yhoof2


Lockheed will lift output of Javelin missiles to 4,000 a year from the current 2,100.


Lockheed LMT +0.07% Martin, the biggest U.S. defense contractor, plans to increase production of the Javelin missiles used by Ukraine to fight Russia, Chief Executive James Taiclet said Sunday.

Lockheed (ticker: LMT) will lift output to 4,000 a year from the current 2,100, he told CBS News. He said he expects demand beyond just Ukraine for weapons because of threats from Russia and China.

The announcement comes as Russian President Vladimir Putin celebrates Victory Day, the anniversary of Germany’s surrender in World War II. Putin linked the Soviet Union’s victory more than 70 years ago to his current invasion of his neighbor in a speech, raising speculation he will further intensify the conflict.

U.S. President Joe Biden visited a Lockheed factory last week as he tried to pass a $33 billion assistance package for Ukraine through Congress. The U.S. has already sent $3.4 billion in weapons to Ukraine since the invasion started in February.

Biden’s visit to the facility in Alabama highlighted the Javelin, which is used to repel tanks. He praised workers making the weapons as helping Ukraine and defending democracy.

“We’re planning for the long run and not just in the Javelin,” Taiclet said. “The threat between Russia and China is just going to increase even after the Ukraine war.”

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