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Lockheed Martin looks to nearly double Javelin missile production -CBS News

Stock Markets May 08, 2022 11:50AM ET
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© Reuters. Javeline anti-tank missiles are displayed on the assembly line as U.S. President Joe Biden tours a Lockheed Martin weapons factory in Troy, Alabama, U.S. May 3, 2022. REUTERS/Jonathan Ernst/File Photo

WASHINGTON (Reuters) -Weapons maker Lockheed Martin Corp (NYSE:LMT) plans to nearly double production of Javelin missiles, the antitank weapon that has helped Ukraine fight Russia's invasion, Chief Executive Officer James Taiclet said in an interview on Sunday.

The aim is to boost output to 4,000 per year from 2,100 per year currently, Taiclet said in an interview with CBS News. The increase will take as long as a couple of years, he said.

U.S. President Joe Biden last week visited a Lockheed facility in Alabama that manufactures the weapons, which are made jointly by Lockheed and Raytheon Technologies (NYSE:RTX), in an effort to press Congress to approve his proposed $33 billion assistance package for Ukraine.

The United States has rushed $3.4 billion worth of weapons to Ukraine since Russia invaded on Feb. 24, including Javelins as well as howitzers, anti-aircraft Stinger systems, ammunition and body armor.

"We can start turning up the heat now and ramping up production immediately," Taiclet said, noting the firm is anticipating increased demand for "superior systems in large enough numbers".

"We're planning for the long run and not just in the Javelin," he said, noting he expects to see increased demand beyond the Ukraine war due to threats from Russia and China.

Lockheed Martin looks to nearly double Javelin missile production -CBS News
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Comments (9)
Chris Sundo
Chris Sundo May 08, 2022 3:32PM ET
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RTX 90.33
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Trevor Roberts
LimitUp May 08, 2022 2:13PM ET
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I will keep this simple and clean. I can go tell Biden to jump off a bridge, now you communists go do the same.
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Frank Farrell
Frank Farrell May 08, 2022 1:02PM ET
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By the way, I believe Putin should be put in his place too but let's stop this hypocrisy about Good v Evil. Britain, the US, Germany in particular have a lot of skeletons in the cupboard!!!
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Trevor Roberts
LimitUp May 08, 2022 1:02PM ET
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You are just one of many that dont understand the difference between freedom and communism.
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Frank Farrell
Frank Farrell May 08, 2022 1:00PM ET
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Yep. And the Americans are Saints yeah?? Vietnam, Korea, Iraq.. adn don't forget that the US were the only country ever to unleash nuclear weapons in Hiroshima and Nagasaki in Japan.
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Trevor Roberts
LimitUp May 08, 2022 1:00PM ET
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Putin is that you?
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Gurtej Gill
Gurtej Gill May 08, 2022 12:42PM ET
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To:US PRESIDENTSir kindly arrange to stop the fight between Russia & ukraine. u should not take any advantage from this war.if u cant do then give chance to PM Modi Sahib.
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Ac Tektrader
Ac Tektrader May 08, 2022 12:11PM ET
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helping Ukraine grind.the murderous Russian military into hamburger.
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Ac Tektrader
Ac Tektrader May 08, 2022 12:07PM ET
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america arming itself and it's allies against the brutal Russian dictatorship and it's plans of conquest of eastern Europe.
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Ritin Choudhari
Ritin Choudhari May 08, 2022 11:46AM ET
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military industry complex in full form 😎
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Ac Tektrader
Ac Tektrader May 08, 2022 11:46AM ET
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....Russia following the the play book of the Third Reich . Russia the looser nation....
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James Johannsen
James Johannsen May 08, 2022 11:46AM ET
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you're confusing Russia with America
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Ritin Choudhari
Ritin Choudhari May 08, 2022 11:46AM ET
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military industry complex in full form 😎
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Ac Tektrader
Ac Tektrader May 08, 2022 11:46AM ET
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....Russia following the the play book of the Third Reich . Russia the looser nation....
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