Lockheed Martin CEO Jim Taiclet discusses the Department of War awarding them a 7-year contract for PAC-3 missiles, their role in the Golden Dome, outlook for the company and more during a 'Mornings with Maria' exclusive interview.
00:00 - New Contract for Missile Interceptors
01:15 - Entering the Defense Super Cycle
02:25 - Managing a $300 Billion Backlog
05:52 - Lockheed’s Role in the "Golden Dome"
07:22 - Morpheus: Counter-Drone Microwave Technology
11:34 - Global Demand and European Production
13:45 - AI and AR: The Future of the American Worker
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What James Taiclet said
Written from the verified transcript and checked against it. Every figure links to the moment it was said.
Lockheed Martin CEO James Taiclet said the company is entering a defense super cycle, backed by a $230 billion backlog plus a $54 billion contract modification, pushing toward $300 billion. He detailed a joint plan with the Department of War and suppliers to triple Patriot missile production and develop a lower-cost PAC-3 MSE missile at half the cost. Taiclet confirmed a production rate of 165 F-35s annually, with the president's original budget seeking 85 US aircraft. He described Lockheed's Golden Dome role across radar, missiles, and space-based interceptors, including the Morpheus counter-drone system that can destroy 50 drones per charge and a 300 kW laser moving to 500 kW. Taiclet discussed repurposing Hellfire missiles as ground-launched Grizzly interceptors costing $5,000-$10,000, European coproduction with Germany's Magma Tall, and a $6 billion internal digital transformation using augmented reality for manufacturing.
Key takeaways
Lockheed Martin's backlog will reach nearly $300 billion with the $54 billion contract modification.
Patriot missile production will triple, and the new PAC-3 MSE will cost half as much.
F-35 production runs at 165 aircraft per year, with 85 planned for the US in the president's original budget.
Morpheus counter-drone system can destroy 50 drones on one battery charge with no ammunition.
Lockheed has a $6 billion internal digital transformation program involving augmented reality and AI-enabled manufacturing.
2:02We know President Trump wants this mass-produced right now?
3:14... your facility in Pennsylvania to create 700 new jobs, do you see the interest from newcomers, employees who want to get into modernizing defense, what's your take in terms of the job creation and skill sets required to take on these roles?
4:25Where is the biggest demand in terms of ammunition?
5:53What would be your role in terms of the Golden Dome? Missiles, space, sensors?
8:13Given the fact that we've learned a lot from the Ukraine war and we saw Iran take a page out of Ukraine's playbook and come up with these cheap drones, we've got to counter those drones, right?
10:57Will those announcements become Lockheed revenue?
13:24You have been pretty vocal about digital engineering, AI-enabled manufacturing, how has that enabled all of this as well?
I am Maria Bartiroma. It is Thursday, July 30th, the Bank of England making a rate decision leaving interest rates unchanged at three-quarters of 1% as expected. The Department of War awaiting Lockheed Martin and an additional $6 billion for a new 7-year contract to create more missile interceptors. The new funding enabling the American Defense Committee to boost production once again and triple capacity by the end of 2030. This new funding in addition to a $4.4 billion contract awarded in April bringing total value to $58 billion. Joining me in a Fox Business exclusive is the CEO of Lockheed Martin, Jim Taiclet, welcome.
Congratulations on this new big deal. Feels to me that after years of talking about modernization we are entering a new decade of mass production. Are you entering a new defense super cycle?
We think we are. The current administration led by President Trump supported by Secretary Hegseth and Deputy Secretary Feinberg are changing the game on defense acquisition. We want to lead that effort with them. It is happening now. I am in our factory in Orlando where you see behind me our team is busy working to put out the equipment we need to defend the country. We should be in a defense super cycle, and this company is the leading defense technology company in the free world and we will keep it that way.
We are in a moment when our adversaries are on the move, a backlog right now is what, over $230 billion. Tell us about the backlog and whether you will mass-produce in the time this country needs it. We know President Trump wants this mass-produced right now?
We announced a $230 billion backlog, $54 billion in this contract modification pushing $300 billion of backlog for the company. We are well-positioned to make that happen. We have a joint plan with the Department of War and our suppliers to ramp up triple as you said the Patriot missile production. We are going to be deploying and developing with government partners a lower cost Patriot missile we call PAC-3 MSE which will be half the cost, two-thirds of the missions set, we want to innovate with the production ramp and do both of those at the same time.
You're innovating, the company invested $89 billion into modernizing several US facilities through 2030, you announced $60 million investment to your facility in Pennsylvania to create 700 new jobs, do you see the interest from newcomers, employees who want to get into modernizing defense, what's your take in terms of the job creation and skill sets required to take on these roles?
We've got 125,000 teammates in the company already. When we put out opportunities to hire, we get plenty of takers, plenty of interviews. We can pick the best of the best, we are training people all the way from high school with internships through PhD level and recruiting from the best schools in the country at every level. We are having a lot of success getting people into the plants and getting people into the design shops to do the job we are being asked to do.
You dramatically increase your production of missiles. I want your take on the F-35, the program appears to be back on track. Is this a growth story once again for the F-35? Where is the biggest demand in terms of ammunition?
We have a production rate of 165 aircraft a year. We work with the US government to take their leadership and guidance and where aircraft are allocated. Right now the president's original budget looking for 85 US aircraft, the balance would be in the next order to international allies and high demand around the world for this aircraft because it's only the fifth-generation fighter plane in production today in the free world and we got to keep up and show potential adversaries that we will outbuild them with the best technology along the way, that will help with our real product, deterrence from armed conflict. The aerospace and defense industry, we are in the business of providing deterrence against armed conflict. If we can produce them at a rate that is competitive, we will be successful in building that product which is deterrence, the most valuable product you can be involved with in the private sector economy.
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Taiclet, J. (2026, July 30). 'PERFECT MATCH': Lockheed Martin CEO details Golden Dome role [Interview transcript]. Fox Business. CEOInterviews.AI. https://ceointerviews.ai/interview/1143153/
MLA
James Taiclet. "'PERFECT MATCH': Lockheed Martin CEO details Golden Dome role." Fox Business, 30 Jul. 2026. Transcript, CEOInterviews.AI, https://ceointerviews.ai/interview/1143153/.
BibTeX
@misc{taiclet2026_1143153,
author = {James Taiclet},
title = {'PERFECT MATCH': Lockheed Martin CEO details Golden Dome role},
howpublished = {Interview transcript, Fox Business. CEOInterviews.AI},
year = {2026},
month = {jul},
url = {https://ceointerviews.ai/interview/1143153/},
note = {Speaker-attributed transcript with timestamps}
}
