On August 17, the U.S. military awarded RTX Corporation (NYSE:RTX)'s Raytheon business a $22.9 billion contract to accelerate the production of Tomahawk missiles, a mainstay of the Navy's fleet.
The development comes as the United States scrambles to replenish depleted stockpiles after using and providing allies with munitions to use during the conflict with Iran, raising concerns about the inventories of critical weapons.
Pixabay / Public Domain
The company said in a statement that the contract would run for seven years and boost the annual output of Tomahawk missiles to 1,000 units, up from its current level of 60 a year.
The award, which is part of the 'Arsenal of Freedom' push, cements a framework agreement Raytheon signed with the Pentagon in February to expand the production rates of Tomahawks, AMRAAM air-to-air missiles, and SM-3 Block IB and SM-3 Block IIA ballistic missile interceptors.
#tomahawk #production #august
The development comes as the United States scrambles to replenish depleted stockpiles after using and providing allies with munitions to use during the conflict with Iran, raising concerns about the inventories of critical weapons.
Pixabay / Public Domain
The company said in a statement that the contract would run for seven years and boost the annual output of Tomahawk missiles to 1,000 units, up from its current level of 60 a year.
The award, which is part of the 'Arsenal of Freedom' push, cements a framework agreement Raytheon signed with the Pentagon in February to expand the production rates of Tomahawks, AMRAAM air-to-air missiles, and SM-3 Block IB and SM-3 Block IIA ballistic missile interceptors.
#tomahawk #production #august
2 months ago
