U.S. Army gives Lockheed Martin $58.6B Patriot contract

The U.S. Army has awarded Lockheed Martin a contract worth up to $58.6 billion to dramatically increase production of Patriot air defense interceptors, a move driven by the severe depletion of U.S. missile stockpiles during the ongoing conflict with Iran. The multiyear agreement, announced on July 29, 2026, converts a previous one-year contract into a seven-year procurement plan running through 2032.

The deal is part of a broader Pentagon push to accelerate weapons production, with another set of contracts worth up to $76.6 billion awarded the same day to General Dynamics and Huntington Ingalls Industries for nuclear submarine construction. Officials said the urgent need stems from the high consumption rate of advanced interceptors in the Middle East, where U.S. forces and allied Gulf nations have been defending against sustained Iranian missile and drone attacks since the conflict began in late February.

According to an analysis from the Center for Strategic and International Studies, the U.S. pre-war stockpile of approximately 2,330 Patriot interceptors had fallen to between 759 and 827 by late July. The U.S. has also supplied hundreds of these missiles to Ukraine in recent...