The Pentagon said on Wednesday it had reached ‌framework agreements with BAE (BAES.L), opens new tab, Lockheed (LMT.N), opens new tab and Honeywell(HON.O), opens new tab to boost production of defense systems and munitions as part of its shift to "wartime footing."
Under the deals, Honeywell Aerospace will "surge production of critical components for America's munitions stockpile," as part of a $500 million multi-year investment, the Pentagon said, Reuters reported.
BAE Systems and Lockheed Martin will also quadruple ‌production of seekers for the Terminal High Altitude Area Defense (THAAD) interceptor, while a new framework agreement with Lockheed will accelerate production of its Precision Strike Missile, the Pentagon added.
