Raytheon secures $1.1 billion US Navy contract for more short-range missiles
(Reuters) -RTX's defense arm Raytheon said on Wednesday it has been awarded a $1.1 billion contract from the U.S. Navy to produce more of its short-range AIM-9X Block II missiles.
The contract would help ramp production of the air-to-air and surface-to-air missiles to 2,500 per year, which are used by over 30 of the United States' allies and partners.
Demand for missiles and military equipment has remained strong and is expected to increase further as geopolitical tensions rise across the world.
Meanwhile, last month, U.S. President Donald Trump requested for a national defense budget of $892.6 billion for fiscal year 2026 from Congress, matching the 2025 budget, with a focus on rebuilding the military, re-establishing deterrence and promoting national security.
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