RTX’s Raytheon wins up to $6.3 billion US missile contract

RTX’s Raytheon has secured a multi-year contract with the Pentagon valued at up to $6.3 billion for SM-3 IB missiles. This agreement follows a previous framework established between the DoD and Raytheon aimed at increasing the production of these specific air defense munitions. The deal ensures the continued development and supply of missile systems to the US military, reinforcing the strategic partnership between the defense contractor and the government for advanced weaponry production.