North Korea-US tension linked to rise in missile defence system requests

North Korea and US tensions linked to rise in missile defence system requests

The rise in requests could be linked to North Korean missile tests

Wednesday, August 9, 2017

Weapon supplier Lockheed Martin has claimed requests for missile defence systems have risen - and tensions between North Korea and the US could be responsible.

Lockheed Martin is the top weapons supplier for the Pentagon and it is suggested that missile defence systems are currently the top priority for many countries.

Tim Cahill, vice president of Lockheed Martin’s air and missile defence business, told Reuters interest in the systems has risen during the last year.

He suggested: “The level of dialogue around missile defence is now at the prime minister and minister of defence level."

The rise in interest appears to correlate with North Korea's many missile tests.

Since North Korea's first long-range missile test on July 4, shares at Lockheed Martin have risen by nearly 8% and stock is up by 20%.

Last year the US was responsible for roughly 70% of revenue for Lockheed Martin. The company mostly sells intelligence and security goods.

Yesterday (August 8) US President Donald Trump claimed he could meet threats from North Korea with "fire and fury" and warned the country not to continue making threats.

The United Nations Security Council has already voted to hit North Korea with sanctions that could cost the country $1 billion per year.