Boeing boosts output of key Patriot missile components
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- Boeing (NYSE:BA) on Wednesday said its defense unit had expanded production of key parts for Patriot air-defense missiles. The components are known as PAC-3 seekers, which provide guidance data to help identify, track and intercept air and missile threats.
- The company said it’s set this year to break its annual production record of seekers by more than 20%.
- Mitsubishi Heavy Industries in Japan plans to double its production of 30 PAC-3 missiles to about 60 a year. The company makes the missiles in a license agreement with U.S. defense contractor Lockheed Martin (NYSE:LMT).
- The United States and its allies are demanding more Patriot missile defense systems. Several countries including the United States have supplied Ukraine with the systems to help defend against Russia’s air attacks.