Pentagon buys $24B SM-6 missiles
The Pentagon announced the signing of a $24.4 billion contract with Raytheon Corporation (RTX) to enhance the production of Standard Missile-6 (SM-6) missiles, which are used for missile defense and coastal defense, to meet the needs of the U.S. Navy. The contract spans five years with an option to extend for an additional two years, aiming to accelerate fulfillment of orders. The average cost of each missile is estimated at $5.3 million, with a delivery timeframe of 53 months. The U.S. Navy has reportedly used between 190 and 370 SM-6 missiles during the Iran conflict from a previous stockpile of 1,160 units.
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