India, July 31 -- The US Pentagon has struck a deal worth up to $58.6 billion with Lockheed Martin Corp to triple the production of Patriot interceptor missiles over the next seven years. The move is believed to have been triggered by an air defence system shortage caused by escalating wars and recent global conflicts.

Expensive to produce and hard to replace, the Patriot Advanced Capability-3 Missile Segment Enhancement is one of the world's most advanced air-defence systems that protects military bases, cities, and critical infrastructure from ballistic missiles, cruise missiles, aircraft and drones.

This fresh deal directly extends a $4.7 billion contract received by Lockheed, a Maryland-based defence contractor, to boost production ...