LMT · 10-Q · 2026Q2 · Full report

Defense Spending Outlook

LOCKHEED MARTIN CORP · 2026-07-23 · Importance 40 · Surprise 42 · In source text

The FY 2026 National Defense Authorization Act authorized $901 billion for national defense, while the Consolidated Appropriations Act provided $839.2 billion of discretionary national-defense funding through September 30, 2026, $8.4 billion above the President’s FY 2026 request. The Tax Act also provides more than $150 billion of additional mandatory defense funding through September 30, 2029. The Administration’s FY 2027 proposal seeks a $1.5 trillion defense budget, including $760 billion for weapons procurement and modernization, but the proposal remains subject to Congressional appropriation and may not translate into Lockheed Martin orders within a specific timeframe.

Key facts

• On April 3, 2026, the Administration released the FY 2027 Defense topline request seeking a $1.5 trillion defense budget including an additional $350 billion of mandatory funding through reconciliation. source
• The FY 2027 Defense proposal emphasizes a $760 billion weapons‑procurement and modernization effort. source

Impact estimates