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The Economic Times

National / The Economic Times

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US strikes $58.6 billion Patriot missile deal amid rising stockpile concerns

The US Army awarded Lockheed Martin a significant contract for Patriot interceptor missiles. This deal aims to bolster depleted weapons stockpiles due to ongoing global conflicts. The agreement converts a previous one-year deal into a seven-year procurement plan. Lockheed will triple production capacity and increase jobs at its Arkansas plant. This move supports efforts to increase missile output and modernize facilities.

30 Jul 2026 7:23 am