WASHINGTON (Pakistan Point News / Sputnik - 30th April, 2022) The lessons of the Ukraine war will likely lead to increased military spending on aerospace advanced systems, Lockheed Martin CEO James Taiclet told an Atlantic Council audience on Friday.
"The Ukraine war has heightened the importance of aerospace domains so I expect increased investment in those areas," Taiclet said
The Lockheed Martin chief executive also predicted an increased demand for F-35 Joint Strike Fighters and F-16 Fighting Falcon combat aircraft among America's NATO allies.
Lockheed Martin received $75 billion in contracts from the US Department of Defense in 2020, according to a Brown University/Center for International Policy analysis, a sum more than 50 percent greater than the State Department's entire operating budget. The top five contractors secured a staggering $286 billion in US defense spending in 2019 and 2020, the report revealed.
After Russia launched its operation in Ukraine on February 24, the Pentagon's top five suppliers saw their stock prices rise - with three jumping by double digits in the first week - as investors on Wall Street anticipated a surge in weapons orders.
