What Is the “Achilles Shield” and How Is Lockheed Martin Involved? Here's What Investors Need to Know.

Key Points
Greece has approved 4 billion euros worth of investments in its ability to protect its airspace.
This recently approved measure is part of a much bigger and broader initiative to upgrade its entire military.
U.S. defense contractor Lockheed Martin makes much of the equipment green-lighted by Greece’s recent approval.
- 10 stocks we like better than Lockheed Martin ›
Greece’s air-defense capabilities will soon be getting an upgrade. That’s the chief takeaway from the country’s recent vote by the Special Permanent Parliamentary Committee on Armaments Programs and Contracts, anyway. It approved a 4 billion euro ($4.6 billion) investment in new defensive technologies like Israeli-made surface-to-air missiles, which are capable of better protecting the nation’s skies and seas from a range of military threats, including aerial drones and enemy aircraft.
Will AI create the world’s first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
This budgetary approval is only a small piece of the country’s bigger-picture defensive spending plan. The overarching project -- often referred to as "Achilles Shield" since it was first proposed last year -- ultimately calls for $33 billion worth of military improvements to be completed by the mid-2030s, including the purchase of Italian-made and French-made naval vessels as well as upgrading 38 Lockheed Martin (NYSE: LMT) F-16 fighter jets that are already being flown by Greece’s air force. Longer term, the Mediterranean country also intends to begin upgrading its existing air bases, making them capable of servicing Lockheed Martin’s newer F-35 fighter jets as part of its modernization efforts.
Certainly not a reason not to own LMT
The investment in Greece’s military upgrades clearly benefits Lockheed Martin, even if not just Lockheed. That’s particularly true in light of the country’s plans to begin purchasing 20 (and up to 40) of the company’s more advanced F-35 jets, each of which can cost on the order of $100 million, depending on the requested specs. These aircraft also require ongoing service and maintenance, which also adds to Lockheed Martin’s future bottom line.
Just don’t lose perspective on the matter. Greece’s total multiyear investment in its air and maritime defenses is only a small proverbial drop in a very big bucket for the American defense contractor. The company did $75 billion worth of business last fiscal year alone, up 6% from 2024’s top line, and is expected to report revenue of $79 billion this year.
Still, if Greece’s interest in upgrading its existing defensive capabilities is any indication of how the United States’ other geopolitical allies view their own current capabilities -- and it likely is -- it certainly doesn’t undermine the case for owning LMT shares even if its net upside is relatively modest from here. Bolstering the bullish case is the stock’s recent stagnation and slight lull since peaking in mid-February.
Should you buy stock in Lockheed Martin right now?
Before you buy stock in Lockheed Martin, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Lockheed Martin wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $510,710!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,105,949!*
Now, it’s worth noting Stock Advisor’s total average return is 927% — a market-crushing outperformance compared to 186% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of March 20, 2026.
James Brumley has no position in any of the stocks mentioned. The Motley Fool recommends Lockheed Martin. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.