US seals $75 billion Patriot missile deal amid rising stockpile concerns

The US Army awarded Lockheed Martin a contract worth up to US$58.6 billion (S$75.6 billion) to produce Patriot interceptor missiles, the Pentagon said on July 29, as conflicts in Iran and Ukraine strain US weapons stockpiles.



The US has supplied large quantities of weapons to allies while also using munitions in its own military operations in Iran, raising concerns about inventories of key air defence and precision-guided weapons.



The Lockheed award converts a previous one-year deal worth US$4.7 billion awarded in April into a seven-year draft agreement, creating a multi-year procurement plan for the interceptors from fiscal year 2026 through 2032, the US Army said.



Pentagon negotiators are pressing contractors to move much faster, with tentative production agreements struck earlier in 2026 at the centre of efforts to increase missile output.