Lockheed Martin LMT is actively expanding its missile production capacity through increased manufacturing, supply-chain investments and major program wins. With rising global defense demand, the company is scaling its operations to support the United States and its allies.
Lockheed Martin has a strong portfolio of proven missile systems, including the Patriot Advanced Capability-3 (PAC-3), Terminal High Altitude Area Defense (THAAD), Joint Air-to-Surface Standoff Missile (JASSM) and the Javelin anti-tank missile. To meet growing demand, the company is ramping up production. In a press release on March 26, 2026, LMT highlighted efforts to strengthen its supplier network, expand tooling and improve manufacturing readiness to support higher output.
The company is also increasing production of its Precision Strike Missiles (PrSM). On March 25, 2026, LMT announced a framework agreement to boost PrSM output, which is expected to quadruple production capacity, building on an earlier $4.94 billion contract. This highlights a significant expansion in its missile manufacturing capabilities.
Moreover, Lockheed Martin is investing in infrastructure to speed up development and production. On March 31, 2026, LMT announced the opening of its Rapid Fielding Center, a facility designed to streamline development, testing and prototype production. This integrated setup helps reduce costs and enables faster delivery of new systems.
Overall, through higher production rates, expanded supply-chain capabilities, new facilities and strong contract momentum, Lockheed Martin is clearly expanding its missile production capacity to support long-term growth.
Other Stocks to Keep on the Watchlist
Other aerospace companies that are expanding their missile production are discussed below:
RTX Corporation RTX: RTX is expanding its missile production capabilities through investments. In March 2026, the company announced a 26,000 square-foot expansion of its Redstone Missile Integration Facility, supported by a $115 million investment. This expansion is expected to increase the facility’s integration and delivery capacity by more than 50%, highlighting RTX’s efforts to scale up its missile operations.
Northrop Grumman NOC: The company is expanding its missile-related production capabilities through new infrastructure investments. In April 2025, the company opened its Enhanced Production and Integration Center (EPIC) in Alabama, a large-scale facility designed to support high-rate production programs. The center increases production capacity for key missile defense systems like the Integrated Battle Command System (IBCS), highlighting NOC’s efforts to scale its manufacturing and integration capabilities.
The Zacks Rundown for LMT
Shares of LMT have surged 35.8% in the past year compared with the industry’s 27.1% growth.
Image Source: Zacks Investment Research
The company shares are trading at a discount on a relative basis, with its forward 12-month Price/Earnings being 20.24X compared with its industry’s average of 31.39X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for LMT’s 2026 and 2027 earnings has moved north over the past 60 days.
Image Source: Zacks Investment Research
LMT stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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SeeLockheed Martin Corporation (LMT) : Free Stock Analysis Report
Northrop Grumman Corporation (NOC) : Free Stock Analysis Report
RTX Corporation (RTX) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
