LOCKHEED WINS $694M HYPERSONIC MISSILE CONTRACT

The U.S. Air Force awarded Lockheed Martin ($LMT) a $694 million contract to move the AGM-183A ARRW hypersonic missile into full production, a deal signed September 29 and announced by the Pentagon in late October. Three years ago the program looked dead: in 2023 the Air Force zeroed out ARRW funding entirely after repeated flight-test failures, and officials said it would die without new purchases. The missile, built to fly at more than five times the speed of sound and launch from B-52 bombers, is now headed to the production line instead of the scrap heap.