Raytheon, a subsidiary of RTX Corporation (NYSE:RTX), on Wednesday announced that it has secured five key agreements with the U.S. Department of War to increase production of critical munitions, including Tomahawk, AMRAAM missiles, and SM-6.
The deal aims to boost annual output targets to over 1,000 Tomahawks, 1,900 AMRAAMs, and 500 SM-6 missiles, with a focus on accelerating production of SM-3 IIA and SM-3 IB interceptors.
The agreements, spanning up to 7 years, will multiply production by up to 4 times. Raytheon is investing heavily in expanding facilities in Arizona, Alabama, and Massachusetts to meet rising global demand. The U.S. Department of War’s commitment to bolstering defense capabilities is a key driver behind this expansion.
These missiles are key components of modern defense systems. The Tomahawk offers long-range precision, AMRAAM excels in air-to-air defense, and the SM-3 series provides critical missile defense. Raytheon’s leadership in these technologies cements its role in national and global defense.
“These agreements redefine how government and industry can partner to speed the delivery of critical technologies and are a direct result of the administration’s Acquisition Transformation Strategy and commitment to deliver the best technologies faster,” said RTX CEO and Chairman Chris Calio.
“We are proud to support the department’s Arsenal of Freedom to ensure the United States and its allies and partners have the decisive edge — now and in the future.”
RTX Price Action: RTX shares were down 3.46% at $196.46 at the time of publication on Wednesday. The stock is approaching its 52-week high of $205.36, according to Benzinga Pro data.
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