Ukraine, Israel bill to bolster Lockheed, RTX profits

25/4/2024 18:38

        Lockheed Martin Corp and RTX Corp, fresh off a surge of orders in response to Russian aggression against Ukraine and the war in Gaza, stand to profit from $95 billion of mostly new weapons funding as the increasingly drawn out conflicts renew demand for pricey equipment.
        
        On Wednesday, President Joe Biden signed a hard-fought bill into law that provides billions of dollars of new U.S. aid to Ukraine for its war with Russia, including $61 billion for Ukraine and $26 billion for Israel.
        
        Pentagon's acquisitions chief Bill LaPlante said, "There are now factories breaking ground around the country," because of the new funding and several recent "supplemental" funding rounds.
        
        Combat in Ukraine and Israel have consumed high volumes of munitions, including Patriot air defense interceptors, used to shoot down Russian missiles, and vast quantities of 155 millimeter artillery rounds.
        
        The new funds will pay for new shipments and be used to replenish U.S. stock piles. European allies have also been lining up to buy U.S. weaponry due to the war in Ukraine and a desire to strengthen NATO.