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U.S. Missile Defense Gets $400 Million After North Korea Threats

  • Orbital ATK, Boeing, Raytheon stand to benefit from more funds
  • Mattis discloses approval by lawmakers for a funding shift
Bloomberg business news

Why a U.S. Missile Defense System Is Angering China

Congressional defense committees have approved shifting more than $400 million from other accounts into missile defense programs to clear the way for more ground-based interceptors, sensors and upgrades to Navy anti-missile vessels in the face of threats led by North Korea.

Boeing Co., Raytheon Co. and Orbital ATK Inc. are likely to be the top beneficiaries. Defense Secretary Jim Mattis disclosed the approval Tuesday during a Senate hearing on Afghanistan. He said he requested approval to shift, or “reprogram,” unspent funds for fiscal 2017 totaling $440 million from accounts such as Army wartime operations and maintenance. A formal six-page request listed $416 million of the total.