Shares of Honeywell (NYSE:HON) rose about 1.3% to nearly $225 in premarket trading on Wednesday, while Lockheed Martin (NYSE:LMT) gained roughly 0.4% to around $613.
Honeywell Aerospace announced that it has entered into a supplier framework agreement with the U.S. Department of War, supported by a multi-year $500 million investment aimed at expanding defense manufacturing capacity.
“Honeywell Aerospace is proud to embrace the challenge and meet this urgent need,” said Jim Currier, CEO of Honeywell Aerospace.
In a separate development, Lockheed Martin also reached a framework agreement with the U.S. Department of War designed to accelerate production of the Precision Strike Missile system. The initiative builds on a $4.94 billion contract awarded by the U.S. Army in 2025 and is expected to quadruple manufacturing capacity for the missile program.