Golden Dome Fever: Lockheed, Raytheon, Northrop Brace For Missile Defense Windfall

With Washington sharpening its defense focus, JPMorgan analyst Seth Seifman says investors shouldn't sleep on the potential scale of the so-called "Golden Dome.” A Donald Trump-era vision that could redefine America's missile shield from the ground to space.

While still nebulous in detail, the initiative is gaining real fiscal teeth: about 17% of the proposed $150 billion defense reconciliation bill is aimed at Integrated Air and Missile Defense (IAMD), with much of the anticipated growth likely landing in the pockets of familiar defense primes.

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Lockheed Designs, Raytheon Builds, Northrop Connects

Lockheed Martin Corp LMT, Raytheon or Rtx Corp RTX and Northrop Grumman Corp NOC are all angling for central roles in the architecture, says Seifman.

• Lockheed expects the Golden Dome to fall into three buckets and it’s positioning itself as a top architect:
  • ground systems like THAAD and PAC-3,
  • space-based tracking, and
  • an overarching command-and-control web
• Meanwhile, Raytheon says it has all the "building blocks" for the program. It is touting proven systems like Patriot, NASAMS and next-gen radars.
• And Northrop, never one to miss a classified memo, is pushing to embed its IBCS system deep into the Dome’s core.

Space Race Heats Up Above The Dome

But the real intrigue might be above the clouds. Seifman notes that while missile defense budgets typically exclude space, the surveillance backbone depends heavily on advanced satellites. That's where the stakes rise – and so do the challengers.

Reuters recently reported that a consortium including SpaceX, Palantir Technologies Inc PLTR and Anduril is targeting the space layer of the Dome, where funding is set to balloon.

Also quietly gearing up is L3Harris Technologies Inc LHX, which has scored awards across all tracking layer tranches and sees its satellite bets paying off big.

The Golden Dome could be the next big thing for defense investors – if you pick the right orbit.

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• SpaceX, Palantir ‘Frontrunners’ In Bid To Build Donald Trump’s Golden Dome: Report

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