Pentagon awards Raytheon up to $20.7 billion to nearly double AMRAAM production

The Defense Department awarded Raytheon a multiyear contract worth up to $20.7 billion to nearly double the production of Advanced Medium-Range Air-to-Air Missiles, known as AMRAAMs. In a separate development, L3Harris announced it won a $6 billion contract from Lockheed Martin. This specific agreement focuses on the delivery of propulsion systems for THAAD interceptors. Both deals represent significant investments in missile technology and defense capabilities to enhance the current military arsenal of the United States.