The U.S. Navy awarded RTX’s Raytheon business a multi-year contract worth up to $24.4 billion. [1, 3] The deal covers production of Standard Missile-6 (SM-6) interceptors. [2, 5]
The contract runs for five years, with options for two additional years. [2, 5] It is intended to accelerate production of the combat-proven missile, which can conduct anti-air warfare, anti-surface warfare and ballistic missile defense. [2, 3]
The award gives Raytheon long-term stability to expand manufacturing capacity and maintain a reliable supply of the critical weapon for the U.S. Navy. [4, 5]