US inks $58.6B Patriot deal to boost interceptor stockpile and production

The U.S. Department of Defense signed a $58.6 billion multiyear contract with Lockheed Martin to procure Patriot interceptors through 2032, dramatically expanding a depleted stockpile and tripling annual production from about 600 to roughly 2,000 interceptors. The deal covers more than 10,000 units and accompanies planned factory investments in Alabama and Arkansas to hire 1,000+ workers, while deliveries to Ukraine and Switzerland are being postponed to prioritize U.S. Gulf-region forces. The move signals a broad push to bolster defenses for potential future conflicts, including against China.