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U.S. Navy grants Raytheon $24.4B missile deal
The U.S. Navy announced that RTX's Raytheon unit has secured a contract worth up to $24.4 billion over five years, aimed at producing SM-6 interceptors to bolster its missile stockpile. This effort is part of the Pentagon's initiatives to meet the growing military needs in the Middle East. The contract is intended to provide a stable supply of missiles capable of conducting offensive strikes as well as missile defense, with the company investing in expanding its production capacity and responding to increasing demand, although the necessary funding has not yet been allocated by Congress. The SM-6 missile is considered the only weapon proven capable of performing aerial warfare tasks, striking surface targets, and defending against ballistic missiles, launched from ships and ground batteries.
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