“The world has received North Korea’s latest message loud and clear: this regime has signaled its contempt for its neighbors, for all members of the United Nations, and for minimum standards of acceptable international behavior,” Trump said in a statement.
Trump has previously ignited the fire under the aerospace and defense sector after stating that the U.S. was ready to respond with “fire and fury” in the wake of reports that Pyongyang successfully miniaturized a nuclear weapon to fit in one of its missiles.
“Obviously this creates opportunity for defense contractors, especially those with some kind of missile defense” Ivan Feinseth, chief investment officer for Tigress Financial Partners, told Investors Business Daily, adding that it was also good for companies that provide satellites tracking and monitoring.
For instance, Lockheed Martin (NYSE: LMT) has a Terminal High Altitude Area Defense system deployed in South Korea. Raytheon (NYSE: RTN) makes a Patriot system while Lockheed produces the Patriot Advanced Capability-3 interceptor missiles. Boeing (NYSE: BA) manages the Ground-Based Midcourse Defense system in Alaska to protect the U.S.
For more information on the defense industry, visit our aerospace & defense category.