Lockheed Martin (LMT) signed a $35 billion Department of Defense contract to quadruple production of missile interceptors, one of the largest single defense awards in recent memory. The deal comes as the White House simultaneously requests $87.6 billion from Congress to replenish Pentagon stocks after the U.S. military campaign against Iran.
Who cashes in: Lockheed Martin (LMT) is the direct winner — this is a multi-year revenue lock that will show up in its Missiles and Fire Control segment for years. RTX (RTX), which makes the Patriot interceptor and AMRAAM air-to-air missiles, is the clearest coattail name; any broad interceptor ramp pulls in Raytheon Missiles & Defense as a co-producer or competing supplier. L3Harris (LHX) supplies guidance and electronic warfare components across multiple interceptor programs. Kratos Defense (KTOS) is a smaller, higher-beta name that makes hypersonic target drones used in interceptor testing — more test volume means more Kratos revenue. None of these are speculative: the contract is signed and the $87.6B supplemental request signals Congress will fund the replenishment.