Defense Contractors Amass Record Backlogs as Military Spending Ramps Up
The Trump administration has asked for a 44% increase in military spending in 2027, bringing the Pentagon budget near $1.5 trillion.
Quick take
Read original at Yahoo Finance US defense contractors RTX and Lockheed Martin reported strong second-quarter sales, with Lockheed's sales rising 11% to $20 billion and RTX's sales jumping 14% to $24.7 billion. The companies' combined backlog now exceeds $500 billion, with Lockheed's at $230 billion and RTX's at $289 billion. This growth is driven by increased military spending, including a 44% increase requested by the Trump administration.
Summarised by netranta from Yahoo Finance. Open the original for the full story.
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