Covenant says its factories will be capable of producing 1,000 missiles each next year, with the goal of scaling up to 5,000 missiles a year.
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High interest rates and prices (an average of $49,275 for new cars in March, per Kelley Blue Book data) have kept buyers from the car market.
Last month, the Pentagon invited 25 drone manufacturers to participate in a competition to win a $150 million prototype order.
Defense stocks are taking up a growing slice of the ESG (environmental, social, governance) pie. Reports attribute that to the war in Ukraine.