Lockheed Martin nabbed a $35.35 billion contract from the U.S. government to quadruple production of its high-end Thaad missile-defense systems.

The defense contractor said Wednesday that the award is one of the first major procurement contracts executed under the Defense Department's effort to stockpile weapons in the next few years.

The contract comes weeks after Lockheed broke ground on a new munitions production center in Alabama. The company is spending more than $9 billion through 2030 to build or update weapons facilities across the country.

Lockheed said in January that it would ramp up its output of Thaad interceptors in response to demand from Pentagon officials.

Shares rose 1%, to $496.50, after hours.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

June 24, 2026 17:36 ET (21:36 GMT)

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