Robert Besser
11 May 2022, 09:55 GMT+10
BETHESDA, Maryland: Lockheed Martin Chief Executive Officer James Taiclet said plans call to nearly double its production of Javelin anti-tank missiles, which have helped Ukraine counter Russia's invasion, as reported by CBS News.
Taiclet added that the aim is to increase output to 4,000 missiles per year from the current level of 2,100.
In an effort to press Congress to approve his proposed $33 billion assistance package for Ukraine, U.S. President Joe Biden visited a Lockheed facility in Alabama last week that manufactures the missiles jointly by Lockheed and Raytheon Technologies.
Since the start of the Russian invasion on 24th February, the U.S. has provided Ukraine with weapons worth $3.4 billion, including Javelins, howitzers, Stinger anti-aircraft missile systems, ammunition and body armor.
"We can start turning up the heat now and ramping up production immediately. We are planning for the long run and not just in the Javelin," Taiclet said.
The firm is anticipating increased demand for "superior systems in large enough numbers," he added, noting that he expects to see increased demand beyond the Ukraine war, due to the threats posed by Russia and China.
Get a daily dose of Taiwan Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Taiwan Sun.
More InformationSEATTLE, Washington: As Americans are continuing to spend and store memberships remain largely intact amidst surging inflation, Costco is expected ...
LOS ANGELES, California: As people are again leaving their homes to go shopping following the easing of COVID-19 restrictions, Amazon.com ...
LONDON, England: The UK's Competition and Markets Authority has launched its second investigation into the advertising sales practices of Google.According ...
LONDON, England: UK officials are expected to approve a request by Shell Oil to develop a North Sea gas field, ...
MADRID, Spain: Hotels in Spain are seeing a rebound in tourism, increasing their rates by 36 percent in April over ...
NEW YORK, New York - U.S. stocks raced ahead on Friday, with technology shares leading the way on signs inflation ...
TIRANA, Albania - Albania has offered NATO the Pashaliman naval base, 110 miles south of the capital Tirana, as "an ...
MILAN, Italy: Prosecutors in Milan are seeking a six year prison term for former Italian prime minister Silvio Berlusconi for ...
BUCHAREST, Romania: Romania's defense ministry has said that it will continue flying its remaining MiG-21 Lancer fighter jets until May ...
TIRANA, Albania: Following violent clashes between Dutch and Italian fans and the police ahead of this week's Europa Conference League ...
TOKYO, Japan: A new high-density electric battery developed in Japan has the potential to power electric airplanes, according to industry ...
ATHENS, Greece: After a sharp increase in attempted entries by migrants through its Aegean islands and land border with Turkey ...