What's Happening?
The Pentagon has awarded $7.8 billion in contracts to Lockheed Martin and RTX Corporation for the production of thousands of new missiles for the U.S. Air Force and Navy, as well as international allies. RTX Corporation received $3.5 billion for the AMRAAM Air-to-Air missile, marking the largest contract in the program's history. Lockheed Martin was awarded $4.3 billion for the Joint Air-To-Surface Standoff Missile (JASSM) and Long-Range Anti-Ship Missile (LRASM). These contracts will supply missiles to NATO nations, including the UK, Germany, and Poland, as well as allies in the Indo-Pacific region and the Middle East.
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Why It's Important?
These contracts are significant for U.S. defense capabilities and international relations, as they enhance the military strength of both the U.S. and its allies. The AMRAAM and JASSM missiles provide advanced air-to-air and air-to-surface capabilities, crucial for maintaining air superiority and defense readiness. The distribution of these missiles to NATO and other allies strengthens military alliances and supports collective security efforts. Additionally, the contracts represent substantial business for Lockheed Martin and RTX Corporation, contributing to the U.S. defense industry's economic growth.
