7/105 sources · 5 publishersUpdated Oct 8, 19:21 UTC
U.S. Navy awards Raytheon $24.4B contract to accelerate SM‑6 missile production
The U.S. Navy announced a contract worth up to $24.4 billion for Raytheon, the missile business of RTX, to boost production of the Standard Missile‑6. The award covers a five‑year firm period with an option for two additional years. The deal is intended to increase output, lower unit costs and replenish depleted stockpiles. The contract was disclosed on 1 October 2026.
Why it matters
The multi‑year award provides Raytheon with a predictable revenue stream and a steadier backlog, which should reduce quarter‑to‑quarter earnings volatility, according to the Navy's contract announcement.
Key facts
- 1The U.S. Navy awarded Raytheon, an RTX business, a contract valued at up to $24.4 billion. defensedaily.com
- 2The contract has a firm term of five years with an option for two additional years. briefs.co
- 3The agreement is intended to accelerate production of the Standard Missile‑6 (SM‑6). en.royanews.tv
- 4RTX said the deal sets an annual production target of more than 500 SM‑6 missiles. bairdmaritime.com
- 5Raytheon previously received a separate $333 million contract for SM‑6 Block IA missiles. bairdmaritime.com
- 6The contract aims to increase output, reduce costs and replenish stockpiles. en.royanews.tv
Summary written by AlphAI from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.