Raytheon awarded $22.9 billion, seven-year contract to massively scale up Tomahawk cruise missile production
The U.S. Navy awarded Raytheon, an RTX $RTX business, a $22.9 billion seven-year contract to ramp annual Tomahawk missile production from about 60 to more than 1,000, per Military Times (Reuters) and RTX.
Raytheon, an RTX $RTX business, has been awarded a $22.9 billion, seven-year contract by the U.S. Navy to dramatically accelerate production of Tomahawk cruise missiles, the Department of War announced Monday as part of its Arsenal of Freedom initiative. The contract supports an annual production ramp to more than 1,000 Tomahawk missiles, up from the roughly 60 the company currently builds each year. RTX said it already delivered three times more Tomahawks in the first half of 2026 than in the first half of 2025. The award follows framework agreements signed between Raytheon and the Department of War in February 2026, part of a broader push by the U.S. military to rebuild stocks of precision-guided weapons after supplying arms to allies and using munitions in the Iran conflict. Sources: Military Times (Reuters), RTX.