The U.S. Army has signed a $58.62 billion contract with Lockheed Martin for the production of interceptor missiles for the Patriot air defense systems, the Department of Defense in Washington announced Wednesday, according to Reuters, as reported by Agerpres.

The U.S. has supplied large quantities of weapons to its allies and used munitions in its own military operations against Iran, which has fueled concerns about stockpiles of essential air defense systems and precision-guided weapons.

Lockheed Martin has secured the conversion of a $4.7 billion contract signed in April for a one-year term into a seven-year framework agreement that establishes a multi-tiered procurement plan for interceptor missiles, beginning in fiscal year 2026 (which ends in late September—Ed.) through 2032, the U.S. Army reported.

Source: AGERPRES