Lockheed Martin's Order Backlog Hits Record $230 Billion

Lockheed Martin reported a record $230 billion backlog in its Q2 2026 results, up from prior levels and driven by missile and air-defense demand. Key contributors include a $4.7 billion PAC-3 MSE production contract secured in April 2026 and quadrupled Precision Strike Missile capacity announced in March. This backlog gives the company multi-year revenue visibility as global defense spending rises.