Lockheed, RTX see growth as Pentagon rebuilds weapons stocks

Lockheed Martin and RTX reported growth as the Pentagon rebuilds weapons stocks amid continued strain on U.S. inventories from the Ukraine crisis and the Iran-related conflict. On July 23, the two defense contractors raised their 2026 financial forecasts, citing sustained demand for weapons and defense systems as the U.S. replenishes depleted stockpiles. Market reaction was positive: Lockheed shares rose 10.6% and RTX shares gained 7.7%. President Donald Trump has urged manufacturers to increase production and proposed a record $1.5 trillion defense budget for fiscal 2027, while the U.S. House passed a defense policy bill authorizing $1.15 trillion in military spending. Pentagon data cited in the report says the U.S. used more than 50,000 rockets, missiles and rocket-propelled munitions since 2022. Lockheed’s missiles and fire control revenue rose nearly 20% to $4.1 billion, and its backlog climbed 38.3% to $230.4 billion. RTX backlog rose 22% to $289 billion.