Raytheon wins $22.9 billion Tomahawk missile contract

Raytheon, a division of RTX (NYSE:RTX), has secured a $22.9 billion contract to manufacture Tomahawk cruise missiles for the U.S. Navy, according to a recent press release. The long-term agreement, under the Department of War’s Arsenal of Freedom program, seeks to boost annual production to over 1,000 Tomahawk missiles and related support.

This follows a series of previous contracts between Raytheon and the Department of War. Raytheon President Phil Jasper stated that Tomahawk serves as the Navy's primary strike weapon, capable of reaching hostile targets hundreds of miles away without endangering naval personnel. RTX doubled the number of Tomahawk missiles delivered in the first half of 2026 compared to the previous year.

The company plans to work with hundreds of small and mid-sized suppliers across the nation to expand production capacity. Tomahawk cruise missiles are long-range strike weapons that can be launched from various platforms, with the technology in use for several decades. RTX reported more than $88 billion in sales in 2025 and employs over 180,000 people worldwide.

The company is based in Arlington, Virginia. Investors interested in RTX’s financial performance and defense sector position can find detailed metrics and expert analysis through InvestingPro.