US strikes $58.6 billion Patriot missile deal amid rising stockpile concerns

WASHINGTON, July 29 - The U.S. Army awarded Lockheed Martin a contract worth up to $58.6 billion to produce Patriot interceptor missiles, the Pentagon said on Wednesday, as conflicts in Iran and Ukraine strain U.S. weapons stockpiles.

The Pentagon awarded Lockheed Martin Corp. a $59 billion deal to triple Patriot missile production over the next seven years, as the Trump administration works to boost a munitions stockpile drained by the Iran war.