Market Chatter: Lockheed Martin, Boeing Part of $23 Billion Arms Sale to Gulf Allies

MT Newswires Live
Mar 20

Lockheed Martin's (LMT) missiles and Boeing's (BA) helicopters included in a $23 billion US arms package by the Trump administration for Middle East allies amid rising tensions with Iran, The Wall Street Journal reported Friday, citing US officials familiar with the decision.

The deals include about $5.6 billion worth of Lockheed Martin's Patriot PAC-3 missiles and $1.32 billion in Boeing's CH-47 Chinook helicopters for the UAE, along with additional air-defense systems, bombs and radar.

The package covers more than $16 billion in publicly announced sales to the UAE and Kuwait, plus roughly $7 billion in previously undisclosed deals for the UAE, according to the report.

Kuwait is set to receive about $8 billion in air-defense equipment, while Jordan was approved for $70.5 million in support and equipment, The Wall Street Journal reported.

Some sales will bypass congressional review under emergency provisions, with the US citing the need to support allies facing threats from Iran, the report added.

Lockheed Martin and Boeing did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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