U.S. Army Awards $1.3 Billion Contract for Javelin Missiles

The U.S. Army awarded a $1.3 billion contract for Javelin missiles to a joint venture between Lockheed Martin and RTX's Raytheon. The missiles have played a crucial role in Ukraine's defense against Russia's invasion. The agreement is part of a larger contract that could reach up to $7.2 billion for an "indefinite quantity" of missiles between 2023 and 2026. The joint venture plans to ramp up production to reach an annual capacity of around 4,000 missiles by late 2026. The new contract includes the production of over 4,000 Javelins to replenish stocks sent to Ukraine. Demand for U.S. weaponry, particularly Javelin systems, remains high in Europe due to the ongoing conflict. This collaboration ensures a steady supply of Javelin missiles to support Ukraine's defense and meet the increasing demand in Europe.