The good news for investors is that shares of Lockheed Martin are on sale right now having fallen 10% in the past week after the company announced third quarter financial results that showed its earnings declined 65% year-over-year to $2.21 per share. Here are three defense stocks that should capitalize on the coming hypersonic spending boom by the U.S. grows its spending in this highly specialized area of defense, only a handful of companies are positioned to benefit.
“We are on schedule for the upcoming flight test of the full common hypersonic missile,” said Vice Admiral Johnny Wolfe Jr, Director, Navy’s Strategic Systems Programs, lead designer on the program, according to the report.Ī study by consulting firm Deloitte forecasts that annual spending on hypersonic weapons will grow to $5 billion by 2025. 28 designed to power a launch vehicle carrying a hypersonic weapon aloft, Reuters reported. The Pentagon successfully tested a booster rocket motor on Oct. However, Congress and the Defense Department are racing to catch-up in a big way, allocating $3.8 billion in the latest budget from the Pentagon to develop hypersonic cruise missiles for use by all branches of the U.S.
Currently, America trails rivals Russia and China in the development of hypersonic weapons. Today’s look at three stocks to buy focuses on the race to develop hypersonic missiles that can travel at ultra-fast speeds of between Mach 5 and 10, or five to 10 times faster than the speed of sound.