US Navy Awards RTX $24.4B Missile Contract
The US Navy awarded RTX unit Raytheon a multiyear contract worth up to $24.4 billion for Standard Missile-6 interceptors. The agreement aims to replenish munitions stockpiles depleted by recent conflicts and boost production.
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The United States Navy awarded RTX CORP's Raytheon unit a $24.4 billion contract on Thursday evening for Standard Missile-6 interceptors. The deal addresses munitions stockpiles depleted by conflicts in the Middle East. It follows a $58.6 billion Patriot interceptor deal awarded to LOCKHEED MARTIN CORP in July. The multiyear munitions agreements aim to pressure defense contractors into ramping up output faster.
