Raytheon and especially Lockheed Martin stock is way up since the war started... it's gotta be all the orders for Javelins which they make together
I don't think Javelins have much to do with it, being that they cost only $100K a pop or something in that range. They would have to be pumping out substantially more than their annual capacity for it to have a meaningful effect on their revenues. What matters much more to the market, I suspect, is what's going on with orders for F-35s and other big ticket items Lockheed makes. This would explain the difference in their stock performance. When I check, I see that both Raytheon and Lockheed are down this month, while since the beginning of the year their growth has been 5% and 25% respectively.
Something that's not Javelins is accounting for this.
Edit: Found an article on FT about Biden's recent visit to the plant where Javelins are made. There it is stated that the plant can manufacture 2,100 missiles a year. Do the math yourself.
At $100K a pop, Ukraine could buy all the Javelins it could possibly need for less than a billion dollars. Somehow I doubt this is what's getting analysts excited about Lockheed stock.