CNN has reported that the U.S. military has signed a major $58.6 billion contract with Lockheed Martin for the production and procurement of advanced Patriot air defense missiles.
According to the U.S. military, the agreement expands a previous $4.7 billion one-year contract signed in April and establishes a multi-year procurement program for Patriot missiles covering fiscal years 2026 through 2032.
The contract comes amid growing concerns over the depletion of U.S. weapons stockpiles following the conflict with Iran.