Geopolitical conflicts, including the United States and Israel’s war on Iran and the conflict between Russia and Ukraine, have fuelled surging demand for US defence companies as the Pentagon races to replenish weapon and aircraft stockpiles.First-quarter results posted this week from Lockheed Martin, Northrop Grumman, RTX Corporation and Boeing saw limited growth as supply chain and production delays weighed on the industry.Recommended Stories list of 4 itemsend of listLockheed Martin, which reported its first-quarter earnings on Thursday, fell short of analysts’ expectations, reporting lower first-quarter profit. Net earnings in the first quarter of 2026 came in at $1.5bn, marking a decline from $1.7bn in the first quarter of 2025.The Bethesda, Maryland-based defence giant said its aeronautics segment was hit by delays in F-16 fighter jet development, which tied flight test issues as supply chain strains weigh on the company’s C-130 transport aircraft.“The combined cost of the rework and schedule extension ran through our programme estimate,” an executive said on Lockheed’s earnings call.Sales tumbled as volumes on classified programmes slowed down by $325m from the previous quarter. However, losses were offset by growing sales of F-35 fighter jets.The administration of US President Donald Trump has proposed purchasing 85 new F-35 jets in 2027.“We aren’t surprised, given management’s desire to be aligned with the customer’s agenda,” said Seth Seifman, an analyst at JP Morgan.Lockheed’s stock is tumbling in midday trading, down 5.1 percent since the market opened Thursday, and is down more than 12 …
