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Lockheed Martin agrees with Trump that defense budget dollars should be spent wisely


President Donald Trump and Lockheed Martin Corp are both on the same page when it comes to defense spending and delivering value for money for U.S. taxpayers, CEO Marillyn Hewson told CNBC on Monday.

In December, President-elect Trump tweeted criticism of Lockheed Martin’s F-35 fighter jet program, saying the cost was “out of control”. The company’s market value subsequently fell by around $4 billion.

“I think what President Trump was trying to communicate to the American citizens is that he is going to increase defense spending and he wants to make sure that he spends those dollars wisely… We certainly agree with that,” Lockheed’s Hewson told CNBC on the sidelines of the Paris Air Show.

Lockheed Martin is in the final stages of negotiating a deal worth approximately $37 billion to sell a record 440 F-35 fighter jets to a group of 11 countries, including the U.S, according to a Reuters report.

Hewson said that while global security threats continued to increase, the Maryland-based defense contractor remained on course to deliver around 160 jets every year.

The Paris Air Show is set to see Lockheed Martin’s stealthy F-35 jet for the first time this week.



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