RTX’s Raytheon wins $22.9 billion Tomahawk contract
RTX’s Raytheon wins a $22.9 billion, seven-year U.S. Navy contract to expand Tomahawk missile production, with annual output targeted to rise from roughly 60 to more than 1,000.
S. 9 billion, seven-year contract to dramatically expand Tomahawk missile production as the Pentagon races to rebuild precision-weapon stockpiles depleted by the Iran war and other global commitments. " Raytheon plans to lift annual output from roughly 60 missiles today to more than 1,000. S.
" The production surge follows severe wartime drawdowns. S. had used "virtually all" of some Army long-range precision missiles during the Iran conflict and deployed nearly half its Tomahawk inventory. The shortage has increased pressure on defense manufacturers, an issue that was recently highlighted as a growing readiness risk involving Iran, China and Russia.
Read Also: US Navy Considers Moving Ford-Class Carrier ‘Island’ to Match Trump’s WWII Look Despite Efficiency Concerns: Report RTX Adds More Major Defense Contracts RTX has stacked up other major government awards. 8 billion Navy extension in July for SPY-6 radars. 1 billion Navy contract for AIM-9X Block II missiles, with production capacity targeted at 2,500 annually. Defense Demand Powers Stronger RTX Results RTX’s defense business has delivered stronger results amid robust demand for its missile and air-defense systems.
66. Its backlog jumped 22% to $289 billion, including $119 billion in defense orders. 25. 27 billion in Q2 sales, up 18%, as demand surged for Patriot, Standard Missile and AMRAAM systems.
The Tomahawk award formalizes a February framework agreement that gives RTX enough long-term certainty to invest aggressively in production capacity while Washington rebuilds its arsenal. Edge Rankings indicate that RTX stock maintains a strong price trend in the Short, Long and Medium terms, with a poor value ranking. 20 in after-market trading on Monday. com