Lockheed Martin targets annual production of 400 THAAD missiles in industrial expansion
Key Facts
Lockheed Martin announced on January 29, 2026, that it would begin construction of a munitions acceleration center in Camden, Arkansas, to support production of THAAD and PAC-3 missiles and other capabilities. The announcement was part of a framework agreement with the U.S. Department of War aimed at increasing THAAD production from 96 to 400 missiles a year over the following 7 years. The plan places the Camden facility within a broader effort to expand munitions manufacturing, as the company holds multiple-year production contracts.
The target of producing 400 missiles a year represents a substantial increase from the level of 96 missiles annually cited before the agreement. The company set a 7-year timeframe to reach the targeted increase, though the available announcement did not provide a detailed annual schedule for production ramp-up stages. Lockheed Martin said the new center is intended “to support production ramp-up activities” and that construction would begin in Camden on the day of the announcement. The site will support production of THAAD and PAC-3 missiles and other capabilities, according to the company statement.
In the context of production contracts, the company announced on July 29, 2026, an amendment to a multiyear contract for PAC-3 MSE missiles worth up to $53.86 billion. The amendment raised the contract’s total value to $58.62 billion, according to a Lockheed Martin statement. The multiyear contract runs for 7 years from the amendment date, placing PAC-3 production among extended commitments alongside the THAAD production increase plan. The company said the amendment was worth up to $53.86 billion and that the award “raises the total value of the multiyear contract to $58.62 billion.” The contract does not establish a direct link to the alleged Camden investment or show that it resulted from it.
The expansion plans fall within a broader commitment Lockheed Martin announced to invest $8–9 billion through 2030 to increase munitions production and modernize or expand more than 20 facilities in the United States. The company described a $300 million investment in another expansion as part of this broader commitment. Its statement indicates that the plan covers multiple facilities, placing the Camden center within a wider industrial expansion rather than attributing the uncertain investment figure to it. The plan combines higher production capacity with manufacturing infrastructure upgrades, according to the company.
On financial results, the company reported net earnings of $1.8 billion, or $7.97 a share, in the third quarter of 2026. Lockheed Martin compared that with net earnings of $1.6 billion and earnings of $6.95 a share in the third quarter of 2025. These figures provide context for the company’s performance during the period in which it announced the expansion plans and contracts, without the results statement linking earnings to the Camden project or the PAC-3 contract. In the market, the company’s stock closed at $636.95 on October 30, 2026, according to EL7 data. The supplied data does not include session highs or lows, so trading context is limited to the closing price.
On systems development, Lockheed Martin said the fourth version of the Precision Strike Missile is expected to target moving ships and relocatable land targets. The company added that, when launched from the HIMARS system, the missile is expected to hit these targets at a range of at least 1,000 kilometers. This provides context on the scope of the company’s product development alongside plans to increase munitions production and multiyear contracts. The available information did not specify a completion date or additional timeline for this development. The next dated step in the Camden plan is the start of construction on the munitions acceleration center announced by the company on January 29, 2026.