Lockheed Martin

NATO defence buildout accelerating. Naval/missile systems in demand. 'Permanently dangerous' Middle East = sustained spend.

PAC-3 / SM-6 missile interceptor systems prime suppliers — naval anti-drone and anti-missile defence in chronic Red Sea use.

Patriot, AEGIS, F-35 — all relevant to Pacific theatre defensive posture. Taiwan exposure is structural Indo-Pacific rebalancing rather than direct cascade.

HIMARS, javelins, F-16 — multi-year procurement contracts locked in through 2030. Ukraine consumption rates have validated the production scale. Most priced-in of the defence picks; score reflects structural rather than acute exposure.