The Pentagon Drops $59B to Mass-Produce Patriot Missiles
It turns out air defense missiles don't grow on trees, so Lockheed Martin is getting a massive long-term contract to fix the global shortage.
Remember when everyone suddenly realized interceptor missiles are actually quite useful and ridiculously scarce? The Pentagon just signed a seven-year deal worth nearly $59 billion with Lockheed Martin to fix that exact problem.
Instead of placing small piecemeal orders year by year, they are shifting to a massive manufacturing pipeline. The plan is to more than triple production from 600 to 2,000 Patriot missiles a year by 2030. At $4 million a piece, those shiny interceptors don't come cheap, but nobody is arguing over the price tag when skies need protecting.
This comes right after another $35 billion deal to quadruple output for THAAD interceptors. Defense lines are expanding and hundreds of new workers are being hired to run extra shifts.
Turns out relying on just-in-time delivery for high-tech munitions was a terrible plan for a volatile world.
Source: Reuters
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