Market Flux Event
GM Delivers First Patriot Missile Parts to Lockheed as Pentagon Accelerates New Air-to-Air Missile
Read this in the Market Flux appGeneral Motors has delivered its first Patriot missile components to Lockheed Martin, marking the Detroit automaker's entry into the missile manufacturing business as the United States works to replenish munitions stockpiles depleted by conflicts in Ukraine and the Middle East. The partnership between GM Defense and Lockheed represents a significant expansion of America's defense industrial base at a time of critical arms shortages.
Separately, the Pentagon and Lockheed Martin have struck a broad framework agreement to accelerate production of a new classified air-to-air missile, the Joint Advanced Tactical Missile, known as the JATM. The weapon, which is still in development but close to entering production, is designed for U.S. Air Force and Navy jets and is considered vital to deterring China. The framework agreement is intended to eventually result in a multi-year production contract.
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Sources
- BloombergPentagon, Lockheed to Accelerate Production of New Missile
- ReutersLockheed Martin reveals new secret missile, fast tracks production
- WsjGM to Produce Patriot Missile Parts as U.S. Faces Critical Arms Shortage
- FirstSquawkGM TO PRODUCE PATRIOT MISSILE PARTS AS US FACES CRITICAL ARMS SHORTAGE - WSJ
- InvestingUS-Iran conflict helps drive wave of supertanker orders
- StaunovoUS-Iran conflict helps drive wave of supertanker orders
- Seeking AlphaGM enters missile business, delivering first Patriot missile parts to Lockheed Martin