Lockheed Martin top managers say company will invest over $8 billion to expand missile production

Lockheed Martin plans to invest more than $8 billion through 2030 to increase missile production, modernize more than 20 facilities and hire workers. Seven-year contracts for PAC-3 and THAAD interceptors underpin the expansion, which also covers the Joint Advanced Tactical Missile and a new variant of the U.S. Army’s Precision Strike Missile. The company expects to add 2 million square feet of manufacturing space across eight sites over three years. It has also signed a framework agreement with the Pentagon to accelerate work on the Joint Advanced Tactical Missile ahead of a multiyear contract.