Pentagon Announces $1 Billion-Plus in New Saudi Arms Sales

Lockheed Martin, RTX Corporation, and potentially other U.S. companies stand to benefit.

Author

Rich Smith
October 12, 2024

The Defense Security Cooperation Agency notified Congress Friday that the Kingdom of Saudi Arabia intends to purchase more than $1 billion worth of missiles and tank and artillery and machine gun ammunition in a series of three foreign arms sales announcements.

Specifically, Saudi Arabia has asked permission to purchase:

2,503 AGM-114R3 Hellfire II air-to-ground missiles from Lockheed Martin (NYSE: LMT) for $655 million.

220 AIM-9X Block II Sidewinder air-to-air missiles from RTX Corporation (NYSE: RTX) for $252 million.

“Various types of tank, howitzer, and machine gun ammunition; propelling charges; fuzes; primers; grenades,” including 10,000 rounds of M456 series 105mm High Explosive Anti-Tank Tracer cartridges.

The latter will be drawn from both existing U.S. Army stockpiles and new production. The companies providing new stock have not yet been determined.

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