Lockheed Martin, RTX Land F-35 Contracts, U.S. To Quadruple Some Defense Production

The war in Iran and conflicts in the Middle East dragged through their seventh day on Friday. U.S. strikes continued across Iran, targeting suspected military installations and weapons sites. Israel increased its defense budget to fund the operations, and launched a new wave of strikes against Lebanon on Thursday. Iran has retaliated with its own strikes against neighboring countries, Israel and oil tankers.

Meanwhile, the U.S. Navy on Friday awarded multiple sustainment contracts to Lockheed Martin and RTX to help maintain the F-35 fleet. Elsewhere, President Donald Trump on Friday announced that the U.S. will quadruple production of “Exquisite Class” weaponry following a White House meeting with defense executives.

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Lockheed Martin, RTX Land F-35 Contracts

The U.S. Navy awarded Lockheed Martin (LMT) two F-35-related contracts. The first contract covers F-35 canopy part production, special tooling and test equipment procurement for the Joint Strike Fighter program. The contract has a maximum ceiling value of $83.69 million. As an undefinitized contract action (UCA), the price has not been finalized and could change after work begins. The Department of Defense obligated roughly $45 million at the time of the award, with $37 million of that funding expiring at the end of the current fiscal year. The work is expected to be completed in January 2027, according to the release.

The Navy also awarded Lockheed a $132.9 billion modification contract to provide test support and services for new F-35 capabilities. The contract covers administrative, maintenance and test preparation for training systems and flight test labs. The Navy obligated nearly $4.5 million in funds at the time, which will expire at the end of the fiscal year.

The Pentagon awarded RTX’s (RTX) Pratt and Whitney engines business a $256.26 million modification contract to bolster F135 propulsion system production, which are the engines for the F-35 fighters. The contract also covers increasing the F-35 global spare engine parts pool for the Joint Strike Fighter program. The work is expected to be completed in December 2029. No funds were obligated at the time of the award.

Lockheed, RTX Stock Close In On Entries

LMT stock climbed 2.6% Friday to push above a 669.75 buy point for a three-weeks-tight pattern.

Lockheed Martin has rallied nearly 39% so far this year.

RTX rose 2.9% Friday to 209.72, clearing an aggressive entry. RTX stock is rebounding from a bounce off support at its 50-day line last week and is holding support at its 21-day exponential moving average.

Aggressive investors could plot a buy point at 206.48, the high point in the stock’s brief consolidation.

Shares are up 14% in 2026.

U.S. To Quadruple Certain Defense Production

Meanwhile, President Trump on Friday met with a group of CEOs from various defense firms. The group included executives from BAE Systems (BAESY), Boeing (BA), Honeywell (HON) Aerospace, L3Harris (LHX)Missile Solutions, Lockheed Martin, Northrop Grumman (NOC) and Raytheon.

The CEOs at the meeting agreed to quadruple production of “Exquisite Class” weaponry, Trump wrote on his Truth Social media platform. Trump added that the goal is to boost production “as rapidly as possible,” at “the highest levels of quantity.”

Trump did not expand on which systems fall under the “Exquisite Class” label. But the term is often used in the defense industry to describe highly-sophisticated, one-of-a-kind technologies or systems.

“Expansion began three months prior to the meeting, and Plants and Production of many of these Weapons are already under way,” Trump wrote. “We have a virtually unlimited supply of Medium and Upper Medium Grade Munitions, which we are using, as an example, in Iran, and recently used in Venezuela. Regardless, however, we have also increased orders at these levels.” Trump noted that states have begin bidding for plant developments.

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