Navy Awards RTX $24.4 Billion Contract To Accelerate SM-6 Production

The U.S. Navy has awarded Raytheon Technologies a contract worth up to $24.4 billion to accelerate Standard Missile-6 production, with the goal of reaching approximately 500 missiles per year. The multi-year agreement addresses growing stockpile concerns driven by rising demand for the SM-6's dual-role strike and air-defense capabilities. The contract represents one of the largest single missile procurement actions in recent U.S. naval history and is intended to expand industrial capacity significantly over a five-year period.