RTX’s Raytheon wins up to $6.3 billion US missile contract

Raytheon's subsidiary, RTX, has secured a multi-year US military contract worth up to $6.3 billion, according to Reuters on October 8. The contract pertains to the manufacture and maintenance of Standard Missile-3 Block IB interceptors. This follows a series of large Pentagon missile contracts; in October, Raytheon received a deal worth up to $24.4 billion for producing Standard Missile-6 interceptors for the US Navy.

Lockheed Martin also recently won a $58.6 billion Patriot missile contract in July. These agreements are part of the Trump administration's initiative to boost US weapons production by encouraging contractors to enhance their manufacturing capacity. However, industry executives have cautioned that a lack of congressional funding could hinder investments in facilities and supply chains.

Raytheon has been actively investing in expanding production capacity for the Standard Missile family, with work under the contract primarily carried out at its facilities in Tucson, Arizona, and Huntsville, Alabama.