Lockheed Martin CEO Advocates For US Investment In Digital Defense: 'We Really Do Have To Bring...All Of American Industry Together To Work On This'

Lockheed Martin’s (NYSE:LMT) CEO Jim Taiclet emphasizes the urgency for the U.S. to escalate its digital technology investments in defense, pointing towards the future of national security.

Taiclet highlighted the need for the United States to prioritize investments in digital defense technologies during an interview on Tuesday, CNBC reported. His vision includes integrating 21st-century digital advancements into the military and national defense systems.

Partnerships with tech giants like Nvidia (NASDAQ:NVDA), Microsoft (NASDAQ:MSFT), and Intel (NASDAQ:INTC) are pivotal, Taiclet noted, as Lockheed Martin seeks to expedite the integration of digital technology within the defense sector.

"We really do have to bring and marshal, if you will, all of American industry together to work on this,” he added.

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October was a strong month for Lockheed, with its shares climbing after reporting a quarter that exceeded expectations. The upswing was also fueled by increased global demand for military equipment amid rising geopolitical tensions.

The Biden administration’s proposal for a $105 billion security aid package is intended to bolster the defense needs of U.S. allies, such as Ukraine and Israel, further underlining the sector’s importance.

Taiclet also revealed that Lockheed Martin is positioned to double the production of its F35 aircraft given sufficient government and supplier investment, although this scale-up could span several years. Additionally, he mentioned the company’s ongoing efforts to increase production of munitions, like the patriot missile systems, by about 60%, which have proven effective in Ukraine.

“We want to be on offense and defense and use the latest technology to actually make that happen,” Taiclet stated, underscoring the company’s strategic focus.

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