US Navy awards RTX’s Raytheon $24.4 billion contract for Standard Missile-6 amid stockpile concerns

The US Navy has awarded a contract valued at $24.4 billion to RTX’s Raytheon for the procurement of Standard Missile-6 interceptors. This significant agreement follows growing concerns regarding munitions stockpiles, which have been depleted due to ongoing conflicts in the Middle East. Consequently, the Pentagon is actively pushing to replenish these essential reserves to ensure operational readiness. The deal focuses specifically on the SM-6 missiles to bolster the current defense capabilities of the US Navy.