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Calling Chard: asparagus and leek risotto with chicken | SaltWireWASHINGTON - Lockheed Martin Corp and RTX Corp, fresh off a surge of orders in response to Russian aggression against Ukraine and the war in Gaza, stand to profit from $95 billion of mostly new weapons funding as the increasingly drawn out conflicts renew demand for pricey equipment.On Wednesday, President Joe Biden signed a hard-fought bill into law that provides billions of dollars of new U.S.
The new funds will pay for new shipments and be used to replenish U.S. stock piles. European allies have also been lining up to buy U.S. weaponry due to the war in Ukraine and a desire to strengthen NATO. However, given uncertainty about when the funding will flow to defense firms, neither Lockheed nor RTX, formerly named Raytheon Technologies, raised their sales forecasts for 2024.
RTX makes the Patriot, which stands for Phased Array Tracking Radar for Intercept on Target, surface-to-air missile defense system.
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