Raytheon to boost Tomahawk production under new $22.9B deal

The U.S. Navy awarded RTX unit Raytheon a $22.9 billion, seven-year contract to accelerate the production of Tomahawk cruise missiles. This deal, part of the Department of War's Arsenal of Freedom initiative, follows framework agreements signed in February. The contract aims to rebuild depleted stocks of high-tech weaponry and signifies a strategic shift toward rapid military readiness. This move is intended to reshape defense procurement and production dynamics while addressing concerns regarding current weapons stockpiles.