Lockheed Martin Begins 87,000-Square-Foot Munitions Facility With $1B Alabama Investment
LMT•Lockheed Martin broke ground on an 87,000-square-foot munitions production facility in Troy, Alabama with over $1 billion investment, part of a $9 billion capacity expansion through 2030. Hancock Prospecting added shares of Lockheed Martin to a $97 million US defense stakes portfolio in Q1, alongside RTX, Northrop Grumman and L3Harris.
1. Groundbreaking of Alabama Munitions Facility
Lockheed Martin initiated construction on an 87,000-square-foot munitions production plant in Troy, Alabama, dedicated to manufacturing THAAD interceptors. The company is allocating over $1 billion to this site as part of a broader $9 billion investment plan extending to 2030 aimed at scaling up munitions output to meet rising defense requirements.
2. Strategic Stake Added by Hancock Prospecting
During the first quarter, Hancock Prospecting increased its US defense exposure by acquiring shares in Lockheed Martin as part of a combined $97 million investment across four major weapons manufacturers. This move underscores confidence in aerospace and defense names despite broader index weakness, as the firm balances these stakes against its mining portfolio positions.
