The CEOs of Boeing, Lockheed Martin, and Honeywell met with President Donald Trump at the White House on Wednesday, as the administration pushes leading defense contractors to boost weapons production amid concerns over U.S. missile and munitions stockpiles.
Following the meeting, the White House awarded Lockheed Martin a $35.3 billion contract to produce THAAD interceptors through June 2032, with $842.9 million obligated immediately.
According to Lockheed, the award is one of the first major multiyear procurement contracts executed under the Department of War’s Acquisition Transformation Strategy and represents one of the first full-scale transitions from a framework agreement to contract execution under the initiative. The award comes weeks after Lockheed Martin broke ground on a new Munitions Production Center in Troy, Alabama, as part of the company’s more than $9 billion investment through 2030.
Tim Cahill, president of Lockheed Martin Missiles and Fire Control, stated, “This award reflects our shared vision with the Department of War to strengthen America’s Arsenal of Freedom through a transformational shift to multiyear procurement. This new approach propels our efforts to strengthen the defense industrial base, expand production, and deliver capabilities to the American warfighter at unprecedented speed and scale.”
The same notice also included a $398.7 million Raytheon award for Advanced Medium Range Air-to-Air Missiles, including sales to U.S. allies.
Additionally, the White House on Wednesday requested $87.6 billion in supplemental funding from Congress, mainly to cover the costs of the Iran war.
The meeting is the second White House gathering with chief executives of major defense companies focused on increasing weapons production. A March meeting included the CEOs and other officials from BAE Systems, Lockheed Martin, Northrop Grumman, RTX Corp, Boeing, Honeywell Aerospace, and L3Harris Technologies, along with Defense Secretary Pete Hegseth.
By CEO NA Editorial Staff
