(Reuters) - Boeing (NYSE:BA) on Wednesday said it has been ramping up its production of PAC-3 seekers - critical components used in Patriot interceptors - to meet the surge in demand for the missile defense system.
The company said it was on pace to break its annual seeker production record by over 20% by the end of the year.
The United States' plan to boost production of Patriot air defence missiles at Japanese factories hit a roadblock due to shortage of these critical component manufactured by Boeing.
Japan's Mitsubishi Heavy Industries makes about 30 PAC-3 missiles each year under license from defence contractor Lockheed Martin (NYSE:LMT), and plans to increase that number to around 60.
The expansion is not possible without additional supply of seekers, essential for guiding the missiles in their final flight stages.
Last year, Boeing began expanding its seeker factory in the United States to increase production by 30%, though the new lines would not be operational until 2027.
Patriot missile defense systems are in high demand, with their use in Ukraine to counter Russian attacks and in the Middle East due to the threat from Iran.