RTX’s Raytheon wins AMRAAM missile contract worth up to $20.7 billion as U.S. targets output of at least 1,900 a year

RTX's Raytheon has secured a $20.7 billion contract to accelerate production of AMRAAM missiles, as reported on September 28, 2026. The company's stock is currently trading at $187.66, down 0.92% in after-hours trading.

The Pentagon awarded RTX’s Raytheon a $20.7 billion contract for AMRAAM missiles to replenish depleted stockpiles. The deal aims to accelerate production, but funding depends on Congress. RTX plans to increase production to 1,900 missiles annually. Similar contracts, like a $58.6 billion deal with Lockheed Martin, face funding uncertainties.

RTX's Raytheon secured a $20.7 billion contract for AMRAAM missile production over five years, with two option years, under the Department of War's Arsenal of Freedom. The deal accelerates production to 1,900 missiles annually, supporting U.S. and allied defense needs. RTX has increased production capacity and invested in technology and supply chain to meet demand.

Raytheon, a unit of RTX, secured a multi-year contract worth up to $20.7 billion for AMRAAM missiles. The five-year deal, with two option years, aims to boost production. RTX reported nearly doubling production in 2025 compared to 2024, with plans for further increases. The contract follows an earlier agreement ensuring annual production of at least 1,900 missiles.

President Trump's investments totaled $2.5B for the week, with $2.2B (89%) from Hanwha Defense for a munitions campus. Other investors included Amazon ($100M), Bank of America ($150M), and GKN Aerospace ($16M). The week's focus on defense contrasts with broader tech and AI investments in the White House portfolio.

Bernstein reduced its 12-month price target for RTX Corporation to $223 from $232, maintaining a Market Perform rating. RTX's Pratt & Whitney unit delivered the first A321XLR with the new GTF Advantage engine, which promises improved performance and a full line shift by 2028, according to three sources.