Lockheed Martin's quarterly profit rises on resilient defense demand

(Reuters) -Lockheed Martin reported a higher first-quarter profit on Tuesday and reaffirmed its forecasts for the year on the back of resilient demand for its missile systems and fighter jets. Defense contractors have benefited from a surge in demand for weapons against the backdrop of the Russia-Ukraine war and conflicts in the Middle East. Legacy companies in the sector are also expected to get a potential boost from U.S. President Donald Trump's review of military equipment export rules that he is seeking to ease.