LMT · Earnings call · 2026Q3T · Full report

Defense Spending Outlook

LOCKHEED MARTIN CORP · 2026-10-22 · Importance 10 · Surprise 6

Management cited continuing geopolitical tensions, saying Russia is not backing off its designs on Europe, Iran continues to pursue greater dominance in the Middle East, and China’s aircraft, missile, and satellite production is concerning. It said these developments and the pace of technology development by China, Iran, and Russia will require sustained investment in U.S. national defense, the defense industrial base, and defense products. Management expects the geopolitical backdrop to support sustained demand for many years and noted the company is partnering with new entrants and venture companies.

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